Bloomberg strategist: Fed to “step by step” to address rate hikes may mark BTC return to its strong performance

07/31 11:53

According to Cointelegraph, eyeing potential performance in the second half of 2022, Mike McGlone, senior commodity strategist at Bloomberg Intelligence, left little doubt as to how Bitcoin in particular would fare. Hints that the Federal Reserve would address rate hikes on a "meeting by meeting basis," as per Chair Jerome Powell this week, "may mark the pivot for #Bitcoin to resume its tendency to outperform most assets," he argued on social media. "July marked the steepest discount in Bitcoin history to its 100-and 200-week moving averages, with implications for it to recover," he added about the 200-week trendline.

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