Leading cryptocurrency bitcoinSince its peak of $69,000 in the last weeks of 2021, it has lost 70% of its value to date. Due to the rising inflation around the world, the central banks’ re-adoption of tight monetary policy prevented investors from turning to crypto.
However, Bloomberg Intelligence analyst Mike McGlone believes that this situation will change again in the coming period. McGlone, Bitcoin’s future “active days” announced on Twitter that you will survive and outperform other markets (stocks, gold, etc.).
A Warm Spell Ahead: Bitcoin Crosses vs. Propensity to Outperform – The world’s benchmark digital asset has taken a beating in 2022 with most others, but #Bitcoin appears poised to resume its inclination to outperform. When the #Fed pivots to easing… pic.twitter.com/87ze4l3Fqe
— Mike McGlone (@mikemcglone11) December 19, 2022
“Bitcoin Compares to Better Performance Trend: The world-referenced digital asset took a big hit in 2022, but it looks like it will outperform in the future. When the FED starts to loosen again in monetary policy…”
In his sharing, McGlone focuses on the global economy will experience a recession in 2023. According to the analyst, stock markets will lose their popularity in this process and cryptocurrencies will stand out more. The Bloomberg strategist pointed out that the correlation between Bitcoin and Nasdaq could act as a support.
Mike McGlone believes that if conditions change, Bitcoin and other altcoins will be the fastest recovering markets. The crypto expert previously predicted that Bitcoin would hit $100,000 in 2023.
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