Saying that this Altcoin will come to the fore in bulls, Bloomberg Analyst Answered the Question: Is the Bear Over?

Bitcoin (BTC)) and crypto- The bear market in currencies brought with it a lot of decline and bankruptcy.

Bloomberg commodity strategist Mike McGlone said we are in the final stages of a bear market as investors continue to struggle with the declines.

In a recent interview with Stansberry Research, McGlone stated that it will take time for the bull to come out of the bear market.

Arguing that we have left the worst behind in the bear market, the famous analyst said:

“Crypto has already fallen 80%. In this context, I think we are in the final stages of this bear market for cryptos.

But getting out of the bear market and starting the bull will not be easy.

Because the most important thing I’ve learned to trade, especially in bear markets, is that they take money from everyone and they have to be volatile and difficult. That’s the key thing.

Remember, this isn’t just a crypto winter. This is the winter of everything but an asset class.”

Claiming that Ethereum will stand out due to its solid foundations in the future bull rally, McGlone stated that ETH is still 12 times higher than just three years ago and outperforming most asset classes with strong support:

“Right now, let’s just look at the price of Ethereum. Around 1200 dollars.

At the end of 2019, before the Covid events broke out, ETH was just $100. So the ETH price is still 12 times higher than 209.

ETH has good support around $1,000. It may fall slightly below that, but I expect ETH to stand out and continue the upward trend over time as it has solid foundations.

The most important thing to remember is that Bitcoin and Ethereum are the two stalwarts in the market.
After bumps in the road, I expect adoption to increase and prices to rise over time.”

Ethereum is up 2.87% in the last 24 hours, 10.23% in the last week and is at $1,291 at the time of writing.

*Not investment advice.