bitcoin attracting attention with his statements and analyzes on gold and the economy, apart from cryptocurrencies and cryptocurrencies. Bloomberg analyst Mike McGlone made a new analysis.
Stating that Bitcoin was born from the financial crisis, McGlone said, BTCHe said it could face the first US recession.
The famous analyst, who examined how the potential performance of BTC could be against the risk of the first recession, said that a negative picture appeared towards the end of the second quarter for the performance of Bitcoin.
GoldNoting that Bitcoin is seen as a safe haven during recessions, McGlone discussed whether Bitcoin can beat gold in the face of the first recession risk.
Evaluating the performance of gold in recession periods and the situation of BTC together, the analyst said that gold is one step ahead.
“Considering the high probability of recession in the US and the tendency of gold to shine in such conditions, gold may stand out against Bitcoin in the second quarter of this year with its emerging risk asset status.
The fact that the FED is still tightening in the first quarter of the year in the current economic conditions may indicate a wave of withdrawal for all risky assets. Here, too, cryptocurrencies are the riskiest.
Bitcoin, the least risky of the cryptos, may have an advantage.”
bitcoin At the time of writing, it continues to trade at $ 26,641.
*Not investment advice.
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