A Crypto Recession Looming? Commodity Strategist Raises The Red Flag
Bitcoin (BTC) surged above the $28,000 mark on Monday, but amid the elation of this milestone, concerns loom large in the crypto market. Mike McGlone, Commodity Strategist at Bloomberg, shed light on a disconcerting trend that has cast a shadow over the digital asset realm. McGlone’s analysis suggests that cryptocurrencies are grappling with the ominous […]
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Per a Reuters report, Bank of America (BofA) Chief Investment Strategist Michael Harnett has warned the U.S. public about a potential economic recession and crypto as a possible safe haven. In a note sent to the bank’s clients, Harnett claimed the current macro-economic outlook is turning bearish for stocks and bonds. Related Reading | Bitcoin […]
As the global economy moves into a recession in the second half of 2002, Bitcoin will likely rally alongside gold and treasury bonds, according to Mike McGlone, a senior commodity strategist at Bloomberg. Bitcoin is likely to transition from a risk-on to a risk-off asset in the second half of 2022, as the macroeconomic environment is rapidly shifting towards a recession, said Mike McGlone, senior commodity strategist at Bloomberg, in a recent interview with Cointelegraph. McGlone predicted:“ I see it transitioning to be more of a risk-off asset like bonds and gold, then less of a risk-on....
Hedge fund manager Michael Burry, famed for forecasting the 2008 financial crisis, has warned of a looming consumer recession and more earnings trouble. He cited falling U.S. personal savings and record-setting revolving credit card debt despite trillions of dollars in stimulus money.
Michael Burry’s Recession Warning
Famous investor and founder of investment firm Scion Asset Management, Michael Burry, warned on Friday about a looming consumer recession and more earnings trouble ahead.
He is best known for being the first investor to foresee and profit from the....
Bloomberg Intelligence senior commodity strategist Mike McGlone believes bitcoin is “more likely” headed for $40K instead of $20K after discussing the possibility of capitulation in a recent tweet. McGlone’s opinion follows a number of predictions that say bitcoin could drop to the $20K zone if there’s more pullback in the cards. Bloomberg Commodity Strategist Suggests Bitcoin ‘More Likely’ to Hit $40K Than $20K Bitcoin markets have improved on Wednesday, after the announcement stemming from El Salvador which recognized bitcoin (BTC) as legal tender in....
On Friday, Bank of America’s (BOFA) chief investment strategist Michael Hartnett explained in a weekly financial note to clients that the U.S. economy could head into a recession. The BOFA strategist’s note further detailed that cryptocurrencies could outperform bonds and stocks.
BOFA Strategist Notes inflation Shock Is Worsening, Cryptocurrencies Could Outperform Bonds and Stocks
Bank of America’s chief investment strategist has warned the U.S. economy could feel some economic shocks. In recent times, inflation in the United States has run rampant and the....