Bloomberg analyst Mike McGlone, Bitcoin interpretation of the 2019 Taurus run before the appearance of a similar bottom, he said.
Bitcoin is the bottom
Bloomberg’s senior commodity strategist Mike McGlone believes that Bitcoin will develop a “bottom üzere as before the 2019 bull run, but this time it was a big difference.
In an interview with the crypto podcast server Scott Melker on January 16, McGLONE, unlike 2018, which financial institutions such as federal reserves reduced interest rates, this time, he argued that they are still tightened with ‘every central bank’. ‘At that time the Fed began to relax and we held the bottom and went up and then we had this problem in 2019’ he said.
McGLONE, “Currently getting tightened in an aggressive way, so if you look at it, you can’t get very excited for any market. Give some time. Big picture, yes, Bitcoin is really rising,” he added.
Kriptokoin.comAs we have reported as Bloomberg’s senior commodity strategist Mike McGlone, was seen as an important analyst in the market. The analyst came up with some accurate predictions in the past. In the past process, McGLone correctly predicted the future of critical levels of $ 6,000, 12,000 and $ 50,000 in BTC. Bitcoin is traded instantly for $ 21,134.
The increase in interest rates affected BTC
McGlone also warned that the BTC may not yet see the estimated increase, as it is pressure on increases in challenging macroeconomic conditions and interest rates. Nasdaq believes that it will fall below its 200 -week moving average, and claims that this is another indication that BTC’s price rally may not soon happen.
Analyst said, ‘If the liquidity is still drawn and Nasdaq is broken, if everything is broken, Bitcoin will be part of it.’ he said. Then he said, ‘I still think it will come forward, so this is where we stand for me.’ he added.
McGlone also said that the market entered a ‘unprecedented’ environment. However, he made the following statements:
“We live in a place where we know that there are bear markets, and the Fed says only, I’m sorry, we take the fist bowl from our hands, he says we won’t give you back.” “I think that we are still in the midst of the biggest macroeconomic reset of our lives, we have experienced a 100 -year event in terms of pandemi. We are experiencing a historical war in Europe and we are experiencing a historical change in political leadership in China.