Bloomberg Analyst Predicts Bitcoin Correction

Bitcoin (BTC) will soon cease to be a risky asset, but investors should prepare for a new price correction, according to Bloomberg analyst Mike McGlone.

Speaking on the Wolf Of All Streets podcast on January 18, Mike McGlone said that the US Federal Reserve is trying to curb inflation and sharply reduce asset purchases, the outlook for risky assets in the short term is much less attractive.

In his opinion, now, there is a transition from an asset associated with risk to an asset that excludes risk. And Bitcoin will strengthen its position after a period of political upheaval.

“Here’s my prediction: the markets are finally pulling back, and we’re getting a 10-20% correction in the stock market. All correlations are the same, as it usually works. Bitcoin benefits from this.”

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