McGlone: “Bitcoin May Face a First”

Bloomberg analyst Mike McGlone says that very important days have begun in BTC. BTC, which broke out after the 2008 US crisis, may face a US recession for the first time in the future. Bloomberg Economics claims that in the second half of the year, gold will outperform Bitcoin. According to some market commentators, giant drops may occur in Bitcoin if the USA enters a recession.

“Maturing #Bitcoin vs. Recession, Fed, Weak Technicals – Born of the financial crisis, Bitcoin may face its first US #recession, and performance implications appear to be leaning unfavorably toward the end of 2Q. Bloomberg Economics’ view for an “ugly ” 2H may tilt risk…”

Although Bloomberg analyst Mike McGlone thinks that gold can shine again in a possible economic recession, he does not approach BTC as positively as gold. As of now, no commentator can predict exactly how the leading cryptocurrency Bitcoin (BTC) will behave in a recession. Since Bitcoin has never experienced an official US recession in history, such a situation creates an atmosphere of uncertainty. Still, it does not seem very likely that BTC will experience huge collapses like the ones transferred.