Bloomberg Analyst Speaks About Bitcoin (BTC) Price! Should Investors Be Afraid?

While the world is facing a possible economic recession, Bitcoin (BTC) Its movements are carefully followed by investors.

In the face of these economic uncertainties BTC It continues its horizontal movements at the level of 20,000 dollars.

Speaking to Stansberry Research Mike McGlone, commodity strategist at Bloomberg Intelligence, He said that the price of Bitcoin is quite low compared to the current situation.

“It’s Just a Matter of Time For Bitcoin To Hit $100,000!”

BTC Reiterating his estimate of $100,000 for the company, the famous analyst continued as follows:

“I think it’s only a matter of time before Bitcoin starts moving towards the $100,000 level.

At some point, BTC will suddenly enter a bull market for its $100,000 target.

Bitcoin price is already significantly low, which I believe will cause BTC to climb to $100,000.”

Also, in past years bitcoin Comparing their movements, McGlone BTC Stating that the price of Bitcoin has followed a historical trajectory, he said that Bitcoin’s current price should not be worried.

“Bitcoin is now forming a base between $19,000 – $20,000, as it did at around $5,000 in the 2018-2019 bear market.

What Bitcoin is doing is falling after it gets too high. In this context, one should not worry about the current price of Bitcoin.”

Finally, Mike McGlone, who evaluated the aggressive monetary policy of the FED in the fight against rising inflation, stated that BTC experienced significant decreases due to the FED’s policy.
“It’s hard for the Fed to be much more aggressive as the world leans towards a possible economic recession. In other words, I expect the Fed’s tightening to slow down in a possible recession.” said.