Bloomberg senior commodity strategist is bullish on Bitcoin for the long term and noted that it is going to be in a global interest of mainstream economic system.
Recently “Miami Bitcoin 2022” even took place, where almost every Bitcoin & crypto proponent shared his plan and thoughts to push the crypto & blockchain industry in the future. The whole event was more than a Bitcoin-related meeting because it was all about the plan to push adoption, instead of talking about the history of Bitcoin.
On 11 April, By taking the reference to the “Miami Bitcoin 2022” event, Mike McGlone, senior commodity strategist at Bloomberg, shared his thoughts on Bitcoin and noted that the crypto Industry seems unstoppable as a mainstream interest-based system. And also noted that it will influence traditional businesses to go with crypto.
From 10 to 12 April, Bitcoin saw a significant correction in its price but the statement of Bloomberg strategist was in favor of the crypto & Bitcoin industry toward the upside, hinting at the biggest change in adoption based situations in the world.
Last week, Mike noted that due to the huge Inflation crypto industry was at the top among other money markets.
“It’s unlikely Bitcoin will avoid price pressure if the stock market declines. The Nasdaq 100 stock index has been unable to get back above water in 2022 and maybe roll over vs. its 50-week mean. Still, we see Bitcoin coming out ahead eventually.”
The current price of Bitcoin is $40,363 and this price is 13.50% down over the last 7 days, which is enough to show that people are steadily losing interest to invest in Bitcoin-like assets.
However, not much better reasons are known, which are causing this sudden downfall in the price of Bitcoin and other crypto-assets but importantly huge funds are ready under the US federal reserve to dilute, in order to slow down the four decades of highest inflation in the US economy.
Don’t miss a thing, sign up for our newsletter