Mike McGlone

Bloomberg analyst cautioned investors not to bet against the Fed, as he sees markets dropping 10-20%. However, he also sees a silver lining for Bitcoin, but not for altcoins. On Tuesday, Mike McGlone, the Senior Commodity Strategist for Bloomberg, appeared on the Wolf of All Streets podcast. There, he cautioned both stock and crypto investors against risk bets. Namely, he believes that the Federal Reserve is serious about raising interest rates. Unfortunately, that's a move that will likely hurt risk…

Mike McGlone, a senior commodity strategist at Bloomberg Intelligence, revealed a report stating his own opinions concerning BTC and its related future adoption race framed within the cryptocurrency domain. His thoughts were directed at the rise in the value of the cryptocurrency in the year. The report focused immensely on two primary factors that aided Bitcoin in its parabolic rise between hurdles ranging between $9,000 to $10,000. The report stipulated these factors based on supply and store value. These were primarily based on the fixed supplies, and the second factor…