Bloomberg analyst Mike McGlonecommented on cryptocurrencies after the banking crisis that started in the USA recently.
The famous analyst claimed that a new bull run could start in cryptocurrencies thanks to the banking crisis. McGlone, Credit Suisse And SVB that the situation experienced by banks such as “a precaution against traditional financial crises” stated that he was playing the role.
Bitcoin? Altcoins?
Bloomberg Intelligence official, leading cryptocurrency if a rally occurs of bitcoin expects it to outperform altcoins:
“Bitcoin should continue to stay above $25,000. In such a scenario, if the S&P 500 index stays below 4,000, I would deduce that investors are demanding more Bitcoin. I think BTC will outperform all cryptocurrencies, including Ethereum.”
Finally, Mike McGlone touched upon the measures taken by the Federal Reserve after the crisis. According to the famous analyst, the reluctance of the FED in monetary expansion will deepen the recession in the US economy.
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