Bloomberg’s macro strategist Mike McGlone predicts that Bitcoin (BTC) will face a significant test in the second half of 2023 due to expected harsh recessionary conditions. He suggests that the stock market will start to decline and Bitcoin will have a chance to prove itself as a store of value, or “digital gold,” by not dipping alongside equities. However, he warns that the Federal Reserve may be reluctant to ease monetary policy in the face of high inflation.