The post Bloomberg Strategist Warns of An Impending Recession: ‘We’re Going to See a Bear Market..’ appeared first on Coinpedia Fintech News
According to Bloomberg’s macro strategist, Mike McGlone, cryptocurrency traders may begin investing in non-digital assets as a result of an impending recession. McGlone believes that the bear markets are not yet over, and as a result, traders will likely shift their focus to gold, a traditional safe-haven asset that tends to appreciate in value during economic downturns.
McGlone shared his views during an interview with Scott Melker and said, “Bear markets don’t end like this. I just don’t see that. They end not [after] months of pessimism, but years of pessimism. And that to me is what we’re heading for, particularly something like this that has hundred years of foundations behind it.”
He has forecasted that cryptocurrency investors will seek refuge in gold as a more secure means of storing value. In an earlier statement, McGl
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