Bloomberg analyst Mike McGlone, who draws attention with his statements and analyzes on gold and the economy, apart from Bitcoin and cryptocurrencies, made a new analysis.
Stating that Bitcoin was born from the financial crisis, McGlone stated that BTC may face the first US recession.
The famous analyst, who examined how the potential performance of BTC could be against the risk of the first recession, said that a negative picture appeared towards the end of the second quarter for the performance of Bitcoin.
Noting that gold is seen as a safe haven during recessions, McGlone discussed whether Bitcoin can beat gold in the face of the first recession risk.
Evaluating the performance of gold in recession periods and the situation of BTC together, the analyst said that gold is one step ahead.
“When the probability of a recession is high in the USA and the tendency of gold to shine in such conditions, gold may stand out against Bitcoin with its emerging risk asset status in the second quarter of this year.
The fact that the FED is still tightening in the first quarter of the year in the current economic conditions may indicate a wave of withdrawal for all risky assets. Here, too, cryptocurrencies are the riskiest.
Bitcoin, the least risky of the cryptos, may have an advantage."
Bitcoin continues to be traded at $ 26,641 at the time of writing.
*Not investment advice.