Mike McGlone, senior commodity strategist at Bloomberg Intelligence, stressed that high stock prices and upcoming interest rate hikes suggest bitcoin’s price may retrace meaningfully to $10,000, serving as a leading indicator of a risk-asset drawdown. Bloomberg’s McGlone: Bitcoin’s ‘A Dud,’ ‘Beta’ While the cryptocurrency market enjoyed one of its finest Augusts ever, with Bitcoin prices…
Mike McGlone, senior commodity strategist at Bloomberg Intelligence, stressed that high stock prices and upcoming interest rate hikes suggest bitcoin’s price may retrace meaningfully to $10,000, serving as a leading indicator of a risk-asset drawdown. Bloomberg’s McGlone: Bitcoin’s ‘A Dud,’ ‘Beta’ While the cryptocurrency market enjoyed one of its finest Augusts ever, with Bitcoin prices […]
Source: https://news.bitcoin.com/crypto-news/mcglone-warns-spx-pullback-could-send-bitcoin-price-to-10k/
