Bloomberg Analyst Issues Bitcoin and Ethereum Warning, Says Looming Recession To Weigh Down on Crypto

Bloomberg Intelligence senior macro strategist Mike McGlone is warning the economy is likely to enter a recession, resulting in a drop in cryptocurrency values. In a new interview with crypto influencer Scott Melker, McGlone predicts that the stock market, business earnings and crypto are all going to take a hit in a looming economic downturn. McGlone says Bitcoin (BTC) will not be immune even though the king crypto may be showing signs of performing more like a risk-off asset. “One thing that I love to mention, the 200-week moving average. Bitcoin’s never spent this much time below it and now