Bloomberg senior analyst Mike McGlone attended the Wolf of All Streets podcast yesterday. bitcoin shared their expectations.
FEDThe famous analyst, who thinks that there will be a decrease in stocks due to the monetary policy that will be implemented in the coming months against rising inflation, said that this drop will adversely affect the crypto money market, including Bitcoin.
Mike McGlone Fed’s rate hike and asset purchases as a result of the tight monetary policy to be implemented through Interest in risky assets such as Bitcoin may decrease. is thinking.
Bitcoin Will Win!
Stating that he has been saying not to deal with the FED for months, McGlone continued his words as follows:
“Cryptocurrencies are among the long-term risk assets that are in a war with the Fed, and cryptocurrencies are the riskiest assets.
However, the important thing here is that Bitcoin is the least risky among cryptocurrencies.”
After the uncertainty in the Fed’s monetary policies is over Bitcoin will come out of this process much stronger. Claiming that there is always a glimmer of hope when it comes to Bitcoin, the Bloomberg analyst said:
“Here’s my guess: We could see a correction of about 10-20% in the stock markets. That way all correlations are equalized and that’s how the system usually works. Bitcoin will come out stronger from this situation.”
Stating that there may be downward movements in Bitcoin in the short term due to the tight monetary policy of the FED, the famous analyst stated that investors should not be worried, and that in the end, Bitcoin will be the winner.