Bitcoin (BTC) is trading in both a month-over-month (MoM) and year-to-date (YTD) uptrend. However, what some investors are seeing as ‘momentum’ for the leading cryptocurrency, others believe could be a short run that is deemed to end, dragging the stock market with it.
This is the case of Mike McGlone, Senior Macro Strategist at Bloomberg Intelligence, according to a post made on X, on October 12.
“Bitcoin may lead [a] great reset by going down (because it went up). Some may call it momentum, but the technical mantra that ‘it will go up because it rose’ (…) is showing the opposite in crypto assets and base metals.”
— Mike McGlone (@mikemcglone11)
Interestingly, McGlone has been constantly defending a bearish bias on Bitcoin while comparing BTC with other commodities. The Senior Macro Strategist has also argued about how cryptocurrency can act as a leading indicator for what he sees as an upgrowing economic recession.
“Leading indicator Bitcoin appears to be rolling ov
We współpracy z: https://finbold.com/bitcoin-may-lead-great-reset-by-going-down-says-commodity-expert/
