Bloomberg Analyst Compares Bitcoin to 2018 “Bottom”: Similar Despite Tough Conditions!

Bloomberg senior analyst Mike McGlone compared the current market to the period before the 2019 bull started, stating that Bitcoin (BTC) continues to appreciate despite everything.

In a program he attended on January 16, McGlone explained the recent rise in Bitcoin with the market for the 2018-2019 period. compared. Analyst, 2018-2019 the current times we are in macroeconomic much more than structure different Reminding that we are at a point where Bitcoin under difficult conditions similar forward-looking performance positive a infrastructure He claimed to have built it.

Global markets in 2018 interest rate cut with monetary expansion Reminding that he pursues policies, the analyst said, grower from the bear market of policies that you get out underlined. In the current situation, unlike in 2018, many central banks’ monetary to tighten McGlone, pointing out that the no big rises drew attention.

On the other hand, the rise in Bitcoin trap Emphasizing that there is no real only to rise in some time He said he needed it. However, the Nasdaq can determine the fate of the market The analyst said:

I believe the Nasdaq will drop below its 200-day average, and if this scenario does happen, Bitcoin could also suffer a decline with everything else. I think we are experiencing an unprecedented macroeconomic reset, risk markets may continue to remain unpredictable in the short term amid major political crises and shifts in economic balances.

On the other hand, a former SEC official, Jhon Reed Stark, recently stated that the daily trading volume in Bitcoin 51% fake arguing that the rise from market manipulation He claimed that it was only

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