Analyst on Bitcoin – ‘Risk v. rewards is tilting towards…’
— Bitcoin, Moving, Crypto, Risk, Similar, Performance, Market, Bloomberg, Cryptocurrency, Tilting — 1 min read
Mike McGlone, Senior Commodity Strategist at Bloomberg, predicts a rise in the price of Bitcoin in the second half of 2022. He said the Bloomberg Galaxy Crypto Index (BGCI) and the 50-week and 100-week moving averages for BTC showed encouraging trends. He asserted that the current indicators resemble those from the bear market’s bottom in 2018, which came before a robust recovery in the first half of 2019. According to data from CryptoCompare, Bitcoin has lost over 58% of its value in Q2, this was its worst quarterly performance since Q3 2011. Mohnish Pabrai, a pupil of Warren Buffett, cautioned that Bitcoin and altcoins are still facing their worst days. Source