Here's Why One Analyst Says The Worst For Bitcoin May Not Be Over
Portfolio Pulse from Bibhu Pattnaik
Bloomberg's macro strategist Mike McGlone predicts that Bitcoin (BTC) may drop further due to an expected US recession in the second half of 2023. He believes that the worst may not be over for Bitcoin and that a liquidity crunch will cause a decline in equities.
June 03, 2023 | 2:33 pm
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Mike McGlone predicts that Bitcoin may drop further due to an expected US recession in the second half of 2023, causing a liquidity crunch.
Mike McGlone's prediction of a US recession in the second half of 2023 and its impact on Bitcoin is based on his analysis of market trends and liquidity pumps. If his prediction is accurate, it could lead to a decline in Bitcoin's value as investors may move away from risk assets like cryptocurrencies during a recession.
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