Bloomberg’s Thought Process On Bitcoin Cover Coming This Current Bearish Market With A Price Drop
The current bearish market which would say have lasted spanning over like six months now, might come to an end with a slight market pump.
In an interview with one of Bloomberg finest analysts Mike McGlone, he is saying that the primary crypto asset bitcoin is poised on coming ahead after the current bearish market as he list a potential global recession which he says might be the determinant for bitcoin price.
“Our bias is that Bitcoin is more likely to come out ahead in most scenarios, but if the inverted yield curve is an indication, economic growth will ebb sharply, with implications for all assets. The benchmark crypto could revisit good support at around $10,000-$12,000 before resuming its enduring upward price trajectory.
A key difference from a year ago is the Federal Reserve and most central banks might be forced to start easing on the back of deflationary forces from declining asset prices.”
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