Crypto Crisis Imminent, Warns Bloomberg’s Mike McGlone, Despite Bitcoin’s Sur...
On October 2, Mike McGlone, Commodity Strategist at Bloomberg, took to social media X (formerly known as Twitter) to express his concerns about the state of the crypto market. Despite Bitcoin’s (BTC) recent rise, McGlone highlighted a disturbing trend and raised the possibility of a cryptocurrency recession. Factors Behind Crypto Market’s Recession Risk McGlone pointed out the concept of “positive beta vs. negative liquidity” and its implications for the cryptocurrency market. Bloomberg’s senior Macro Strategist suggested that the weakness observed in the third....
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Bitcoin (BTC) has recently sent a cautionary signal to cryptocurrency investors, with Bloomberg Intelligence’s senior macro strategist, Mike McGlone, issuing a stark warning amid the renewed hopes for exchange-traded funds (ETFs). Despite the BTC’s resilience, McGlone suggests that its recent price decline could foreshadow an impending liquidity crisis, especially in a financial landscape characterized by […]
The price of BTC could be set for a bullish rebound this year, says Bloomberg’s senior commodity strategist Mike McGlon, as the market shows similar signs to the bottom of 2018. Bloomberg’s senior commodity strategist Mike McGlone is tipping that the price of Bitcoin (BTC) will rebound in the second half (2H) of 2022. Sharing his thoughts to his 48,100 Twitter followers on July 6, McGlone saw positive signs in the data Bloomberg’s Galaxy Crypto Index (BGCI) and the 50-week and 100-week moving averages of BTC’s price. He suggested that the current indicators are showing similar signs to the....
The collapse of Sam Bankman-Fried’s crypto empire is likely to have repercussions beyond the crypto markets, according to Mike McGlone, senior commodity strategist at Bloomberg. The repercussions of the cataclysmic FTX downfall are going to be broader than the crypto markets, as they will accelerate downward moves in stocks and commodity markets, according to Mike McGlone, senior marco analyst at Bloomberg.“Bitcoin has been one of the leading indicators on the way up, and it’s a leading indicator on the way down. And it’s just broken down, so expect most dominoes to fall,” McGlone pointed....
Crypto has grown to become a $2.7 trillion asset class, with Bitcoin, Ether and DeFi attracting more institutional interest. The career risk surrounding cryptocurrency is shifting to money managers who don’t have exposure to digital assets as opposed to those who are already invested, highlighting a dramatic shift in the institutional acceptance of Bitcoin (BTC) and decentralized finance, according to Bloomberg’s senior commodity strategist Mike McGlone. The November edition of Bloomberg’s Crypto Outlook described 2021 as just another foundation year for the cryptocurrency market, further....
Over the last two days, Bloomberg Intelligence commodity analyst Mike McGlone published the firm’s commodity and crypto outlook reports, and McGlone’s latest analysis details that the price of gold could resume its rally after a foundation similar to 1999 is constructed. Moreover, as far as bitcoin and ethereum are concerned, the analyst argues that the two leading crypto assets will “outperform most major assets” when the “economic tide turns.”
Commodity Strategist Mike McGlone: ‘We See Risks Tilting Toward an Elongated Deflationary....