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Bitcoin likely to transition to a risk-off asset in H2 2022, says Bloomberg analyst

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    Bitcoin is likely to transition from a risk-on to a risk-off asset in the second half of 2022, as the macroeconomic environment is rapidly shifting towards a recession, said Mike McGlone, senior commodity strategist at Bloomberg, in a recent interview with Cointelegraph. McGlone predicted:

    “ I see it transitioning to be more of a risk-off asset like bonds and gold, then less of a risk-on asset like the stock market.”

    According to the analyst, the crypto market has flushed out most of the speculative excesses that marked 2021 and it is now ripe for a fresh rally. McGlone also pointed out that the Fed’s aggressive hiking of interest rates will lead the global economy to a deflationary recession, which will ultimately favor Bitcoin:

    “I fully expect we’re going to have a pretty severe recession globally, which probably will make Bitcoin shine […] along with gold and U.S. Treasury long bonds.”

    Don’t forget to check out the full interview on our YouTube channel and don’t forget to subscribe! 



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