Bloomberg Analyst Says $100,000 In Bitcoin It’s “Just A Matter Of Time”: Here’s All He Said!

Mike McGlone, senior commodity strategist at Bloomberg, said in a recent interview. bitcoin He made his final comments about it.

“Bitcoin Will Rebound If It Acts As It Normally”

Mike McGlone had this to say about the alleged “biggest bull market ever” in the second half of the year:

“If Bitcoin behaves as it normally does, it will recover from its current levels. It’s only a matter of time.

Of course, if the FED continues its current stance, it will be devastating for all risky assets. However, I still think BTC will outperform in most scenarios.

Looking at the best-case scenario, if the market improves and stocks start to recover cryptocurrencies will outperform most assets.

In another more likely scenario, the stock market continues to decline and we enter a global recession. I think BTC is heading this way. This year it became clear that BTC is one of the strongest indicators. It also trades on weekends so people can comment on the market before Monday.

I expect Brent oil to collapse and Bitcoin to come forward with gold and bonds.”

A Matter of Time? $2,000 #Gold$100,000 #Bitcoin$50 #CrudeOil –
The energy spike is proving its own worst enemy, with macroeconomic implications that may buoy gold and help Bitcoin transition toward a high-beta version of the metal and Treasury bonds. pic.twitter.com/4RO3wkMYxf

— Mike McGlone (@mikemcglone11) August 8, 2022

McGlone said that he thinks BTC is on the way to becoming a more risk-free asset like gold or bonds, and is gradually losing its character as a risky asset similar to the stock market:

“I see BTC becoming a risk-free asset like bonds and gold, rather than a risky asset like the stock market.”

#Bitcoin, #crypto‘s place in what may be early days for the great reversion beginning in 2022.https://t.co/eyWIu8fYfS

— Mike McGlone (@mikemcglone11) August 8, 2022

*Not investment advice.