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Bloomberg analyst tips bullish BTC recovery in next six months

Cryptocurrency Jul 07, 2022 03:00AM ET
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Bloomberg analyst tips bullish BTC recovery in next six months

Bloomberg’s senior commodity strategist Mike McGlone is tipping that the price of Bitcoin (BTC) will rebound in the second half (2H) of 2022.

Sharing his thoughts to his 48,100 Twitter (NYSE:TWTR) followers on July 6, McGlone saw positive signs in the data Bloomberg’s Galaxy Crypto Index (BGCI) and the 50-week and 100-week moving averages of BTC’s price. He suggested that the current indicators are showing similar signs to the bottom of the bear market in 2018, which preceded a strong rebound in the first half of 2019.

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Bloomberg analyst tips bullish BTC recovery in next six months
 

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