Bitcoin likely to transition to a risk-off asset in H2 2022, says Bloomberg analyst

1 month ago 29

As the planetary system moves into a recession successful the 2nd fractional of 2002, Bitcoin volition apt rally alongside golden and treasury bonds, according to Mike McGlone, a elder commodity strategist astatine Bloomberg.

244 Total views

3 Total shares

Bitcoin is apt to modulation from a risk-on to a risk-off plus successful the 2nd fractional of 2022, arsenic the macroeconomic situation is rapidly shifting towards a recession, said Mike McGlone, elder commodity strategist astatine Bloomberg, successful a caller interrogation with Cointelegraph. McGlone predicted:

“ I spot it transitioning to beryllium much of a risk-off plus similar bonds and gold, past little of a risk-on plus similar the banal market.”

According to the analyst, the crypto marketplace has flushed retired astir of the speculative excesses that marked 2021 and it is present ripe for a caller rally. McGlone besides pointed retired that the Fed's assertive hiking of involvement rates volition pb the planetary system to a deflationary recession, which volition yet favour Bitcoin:

“I afloat expect we're going to person a beauteous terrible recession globally, which astir apt volition marque Bitcoin radiance [...] on with golden and U.S. Treasury agelong bonds."

Don't hide to cheque retired the afloat interrogation connected our YouTube transmission and don't hide to subscribe! 

Read Entire Article