The Yr 2022 has not been a superb 12 months for the cryptocurrency area because the bears proceed to dominate and paint the markets crimson.
The market was hit by the Terra (LUNA) crash, adopted by a number of crypto lending corporations submitting for chapter together with rising inflation and rate of interest hikes.
The value motion displayed by the market will not be favorable. Nonetheless, all hope will not be misplaced. One of many senior analysts and strategists at Bloomberg, Mike McGlone, believes that Bitcoin (BTC) will witness a optimistic value motion within the second half of the 12 months.
The analyst took to Twitter to precise his views. He mentioned that Bitcoin is gearing itself to outperform within the days to return.
Additional, McGlone claims that within the second half of 2022, Bitcoin and bonds may see a large bull run.
These claims from the strategist emerge as he believes Bitcoin is likely one of the quickest rising property since its introduction. He means that the asset may very well be on the verge of reworking itself into international collateral.
Subsequent, whereas speaking about Bitcoin volatility in comparison with different property, McGlone compares it to the Bloomberg Commodity Index (BCOM) and says this may push it to outperform in H2.