• March 20, 2023


All the latest cryptocurrency news

Bloomberg Strategist: Bitcoin Has Found Support

ByLouis Adams

Jan 18, 2023
Reading time: < 1 minute

According to Bloomberg strategist Mike McGlone, Bitcoin reached fundamental values in 2022 in much the same scenario that was observed at the end of 2018.

He has noted that in the coming months we will be able to observe the first phase of consolidation in which the crypto market was in 2019.

The fall of Bitcoin was the result of a sharp tightening of monetary policy in the United States. The Fed has chosen to raise rates to curb inflation, which is the reason why activity in the market for risky assets has declined sharply in the past year.

Ultimately, BTC, as after 2019, will be in the bullish zone. The expert has said that the trend change will take place at the moment when macroeconomic factors become more favorable for the IT sector, including the blockchain industry.