Bloomberg senior analyst Mike McGlone stated that Bitcoin (BTC) may face its first US recession.
Analyst McGlone made a recent social media in sharing, He made remarkable statements about the current state of Bitcoin. of bitcoin From the 2008 financial crisis Reminding that he was born later, McGlone is now dragged into the USA. recession Cryptocurrency market, especially Bitcoin negative claimed to be reflected.
McGlone says Bitcoin’s performance results are currently due to expire this month. towards the end of the second quarter indicated a negative trend. In this process, the analyst of gold that you can shine and Bitcoin as a risk product He hinted that it could be seen and perform worse than gold.
on the other hand Bitcoin/Gold Looking at the graph of the price 15.50 points pointing out that it has returned from the value, the analyst said that this level from 2017 noted that there is a significant pivot resistance:
The high probability of a recession in the US and the tendency of gold to shine in such conditions could be a process that works in Bitcoin’s favor. Our chart shows that the bitcoin-gold ratio has hit a significant pivot since 2017 at around 15x. What is remarkable is that the Conference Board Leading Index Ten Economic Indicators last fell deeply into negative territory at a matching rate in 1972-73.