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Bloomberg’s McGlone: ‘Bitcoin Might Lose Zero’
In a shocking turn of events, Bloomberg’s Matt McGlone has made a bold prediction about the performance of Bitcoin. Speaking in an exclusive interview with U.Today, McGlone stated that Bitcoin might actually lose zero during this current market downturn.
When asked to explain his stance, McGlone emphasized that he believes we have reached the peak of the large speculative cycle for risk assets, including Bitcoin. However, he noted that Bitcoin’s performance has been surprisingly strong despite the chaos in global financial markets.
Despite being perceived as a risk-on asset, Bitcoin remained flat while other stock market indices plummeted by more than 6%. This divergence has led some to speculate that the cryptocurrency may be decoupling from traditional assets and carving out its own path forward.
McGlone believes this could be a sign that investors are shifting their attention away from stocks towards alternative safe-haven assets, including gold. As a result, Bitcoin might not lose as much value as other risk-on assets, or potentially even lose zero in the midst of this market correction.
It’s worth noting that McGlone did not provide any specific timeline for his prediction to come true or whether this would be the end of Bitcoin’s upward trend.
In related news, some investors have been buying up gold ahead of potential global economic uncertainty.
Source: https://u.today/bloombergs-mcglone-bitcoin-might-lose-zero
