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