Mike McGlone, one of Bloomberg's most famous commodity analysts, announced that if there is a bubble burst event in the markets, a downward turn may take place in Bitcoin (BTC), the best-performing asset in history.
Continuing his statements, Mike McGlone made the following statements about the Bitcoin price:
“The Fed funds rate, around 2% above the Consumer Price Index, is restrictive compared to the 20-year average of minus 1%, but rising fiscal deficits appear unstoppable, making me biased for gold to continue its rally against most commodities and perhaps stocks in the second quarter of the year.” protecting.
Bitcoin risks, which are at the top of my annual performance scorecard at the end of the first half, and the Bloomberg US Treasury 20+ total return index, which is at the bottom, may show some comeback in the second half. “If commodities follow a normal path towards low pricing and risk assets rise slightly, there could be a trend towards deflation worthy of inflation reaching 2022 highs.”
Bitcoin, the world's largest cryptocurrency, is about to close the week with a loss of approximately 3.49% at the time of writing.
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*This is not investment advice.