Bitcoin prone to transition to some risk-off asset in H2 2022, states Bloomberg analyst

Bitcoin will probably transition from the risk-onto a danger-off asset within the other half of 2022, because the macroeconomic atmosphere is quickly shifting perfectly into a recession, stated Mike McGlone, senior commodity strategist at Bloomberg, inside a recent interview with Cointelegraph. McGlone predicted:

“ I view it transitioning to become much more of a danger-off asset like bonds and gold, then a lesser risk-on asset like the stock exchange.Inches

Based on the analyst, the crypto market has disguarded the majority of the speculative excesses that marked 2021 which is now ripe for any fresh rally. McGlone also noticed that the Fed’s aggressive hiking of great interest rates may lead the worldwide economy to some deflationary recession, that will ultimately favor Bitcoin:

“I fully expect we are going to possess a pretty severe recession globally, which most likely can make Bitcoin shine […] together with gold and U.S. Treasury lengthy bonds.”

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