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Mike McGlone: Bitcoin Will Benefit from Fed Tightening

ByLouis Adams

May 16, 2022 #Bitcoin
Reading time: < 1 minute

Bloomberg strategist Mike McGlone has commented on the fall of the stock market and digital currencies.

He has said in an interview with Yahoo Finance that the trend we observe is a direct result of the tightening of the monetary policy of the Federal Reserve of the United States (Fed).

Mike McGlone is known for predicting a repeat of the famous Bitcoin run and reaching $20,000 in the summer of 2020. In addition, the same analyst did not rule out a more impressive performance of BTC.

According to McGlone, the tightening of the monetary rate of the Fed in the long term will help improve the position of the cryptocurrency.

The stock market is likely to retreat in the coming months. Bitcoin and Ether will also fall in value, but they will not only be able to win back losses, but also outperform other assets in terms of profitability.