Cryptonian

03/04 04:33

is it time to short crypto?

According to Mike McGlone, a senior commodities strategist at Bloomberg Intelligence, it may be premature to declare the bear market for cryptocurrencies over.

In a recent report, McGlone argues that digital currencies, including bitcoin (BTC), will continue to face significant challenges due to the Federal Reserve’s ongoing policy of increasing interest rates.

He believes this policy will act as a “headwind” for most risky assets, including cryptocurrencies, and that investors may need to take out insurance to protect their portfolios.

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