Bloomberg Analyst: If U.S. stocks continue to fall, Bitcoin may still face downward pressure in 2022

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彭博分析師:若美股持續下跌,比特幣在 2022 仍恐難逃下行壓力
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Bloomberg analyst Mike McGlone tweeted recently: The U.S. stock market may continue to fall in 2022, dragged down by this, and Bitcoin may not escape the downward price pressure, but I believe Bitcoin is proving its own value. will stand out first. (Recap:Bloomberg analyst: Bitcoin spot ETF is expected to be approved early next summer; after the Fed raises interest rates, BTC is proving its value) (background supplement:S2F Model|Analyst Plan B: Bitcoin’s “realized market value” is close to an all-time high, or pushes BTC to a new high)

PengBo senior commodity analyst Mike McGlone pointed out on his Twitter on the 9th: If the stock market falls, Bitcoin is unlikely to avoid downward price pressure in 2022, but is still optimistic about its future development. McGlone wrote:

The Nasdaq 100 is incapable of recovering in 2022 and could be oscillating around its 50-week price moving average. Still, we’re finally seeing Bitcoin stand out.

Another post he shared on Twitter earlier also pointed out that as the US Federal Reserve officially started raising interest rates in mid-March, the most risky asset is Bitcoin, which also faces headwinds with interest rate hike expectations, but if In 2020, Bitcoin will eventually prove its worth.

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Further reading:Bank of America: ‘Recession Shock’ Is Coming, Cryptocurrencies May Outperform U.S. Stocks

. Source: Mike McGlone

May fall to 30,000, then soar to $100,000

According to an earlier report by the dynamic zone, McGlone said in an exclusive interview with Youtube channel Scott Melker in late March: he still believes that Bitcoin will rise to $100,000, but in the next few months, Bitcoin may first fall to 30,000. A key support level for the US dollar before a 230% rise towards $100,000.

McLaren said:

I think if you buy BTC at around $41k, maybe in less than 1 year you should be able to see around $100k, but right now at that level we’re probably going See $30,000. I fully believe in this risk reward as $30k has been a key support for BTC.

Bitcoin fluctuates in a narrow range at lows

Bitcoin (BTC) seemed to stand firm after dropping to around US$42,000 in the early morning of yesterday (9th) and continued to fluctuate within a narrow range; it was reported at US$42,831 before the deadline, up 0.73% in the past 24 hours.

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