Bloomberg Analyst Didn’t Believe The Rise In Bitcoin! Here’s The Level He’s Been Waiting For!

bitcoin And cryptocurrency made a name for himself with his predictions and analyzes on the Bloomberg analyst Mike McGloneNew Bitcoin sharing came from

BTCExplaining his opinion on whether the direction is $20,000 or $40,000, McGlone said that Bitcoin may face upside winds in the near future.

Stating that the key point in Bitcoin has been about $ 30,000 since 2021, the analyst said that behind this rise of BTC, Federal fund futures (Fed), the rise of Nasdaq and BlackRock He said that several giant companies, including the.

“Is it $20,000 or $40,000 in Bitcoin? It is facing the Fed’s tightening policy and recession.

Spot Bitcoin ETF filings won’t stop Bitcoin from risking an initial US recession, a potential stock bear market, and facing central banks that continue to tighten.

Most central banks continued to tighten in June.

While risky assets like BTC have risen on hopes of a moderate US recession and Fed easing, the stance of most central banks could be a headwind for risky assets.”

Bitcoin $20,000 or $40,000? Facing the #FedRecession, Nasdaq – Potential launch of US ETFs won’t shield #Bitcoin from facing its first US #recession, a potential equity bear market and vigilant central banks. Lessons of risk-assets vs. negative liquidity & economic contraction pic.twitter.com/plM5c5ihsg

— Mike McGlone (@mikemcglone11) June 23, 2023

Stating that he believes it is only a matter of time before a spot Bitcoin ETF is approved in the US, Bloomberg analyst stated that BlackRock’s spot Bitcoin ETF application has accelerated the approval process.

However, McGlone will have a spotlight in 2023. bitcoin Pointing out that there is a high probability that ETF approval will not come, he stated that the US could enter a recession in the coming months.