{"id":471382,"date":"2022-07-07T08:25:36","date_gmt":"2022-07-07T05:25:36","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bloomberg-analyst-tips-bullish-btc-recovery-in-next-six-months\/"},"modified":"2022-07-07T08:25:36","modified_gmt":"2022-07-07T05:25:36","slug":"bloomberg-analyst-tips-bullish-btc-recovery-in-next-six-months","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bloomberg-analyst-tips-bullish-btc-recovery-in-next-six-months\/","title":{"rendered":"# Bloomberg analyst tips bullish BTC recovery in next six months"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a381cdde3c64\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a381cdde3c64\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bloomberg-analyst-tips-bullish-btc-recovery-in-next-six-months\/#%E2%80%9D_Bloomberg_analyst_tips_bullish_BTC_recovery_in_next_six_months_%E2%80%9C\" >&#8221; Bloomberg analyst tips bullish BTC recovery in next six months &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Bloomberg_analyst_tips_bullish_BTC_recovery_in_next_six_months_%E2%80%9C\"><\/span>&#8221; Bloomberg analyst tips bullish BTC recovery in next six months &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDcvZTBmM2IzOTUtYzk5Mi00ZDUwLWIxMWQtYWJmOWI1ODMyNjYxLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-2a0745c6>Bloomberg\u2019s senior commodity strategist Mike McGlone is tipping that the price of Bitcoin (BTC) will rebound in the second half (2H) of 2022. <\/p>\n<p>Sharing his thoughts to his 48,100 <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> followers on July 6, McGlone saw positive signs in the data Bloomberg\u2019s Galaxy Crypto Index (BGCI) and the 50-week and 100-week moving averages of BTC\u2019s price. He <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/mikemcglone11\/status\/1544632603889864704\">suggested<\/a> 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. <\/p>\n<blockquote><p>\u201cWith the Bloomberg Galaxy Crypto Index nearing a similar drawdown as the 2018 bottom and Bitcoin\u2019s discount to its 50- and 100-week moving averages similar to past foundations, risk vs. reward is tilting toward responsive investors in 2H.\u201d<\/p><\/blockquote>\n<p>The BCGI is designed to measure the performance of the largest crypto assets to ascertain a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">general<\/a> view of the market\u2019s overall performance. Moving averages pinpoint the average price of an asset over a specific amount of time such as 50 or 100 days. <\/p>\n<p>Crypto Winter in 2018 was a rough time for BTC, as the price plunged down from the $16,000 region in January to a market bottom of around $3,200 by mid-December according to data from Coingecko. Following the carnage however, BTC went on to pump to around $13,000 by late June. <\/p>\n<p>McGlone predict in a follow up post that BTC is either on track for \u201cone of the greatest bull markets in history at a relatively discounted price to start 2H\u201d or that data is showing that the crypto market is starting to fail and scare away investors. <\/p>\n<p>\u201cOur bias is [that] Bitcoin adoption is more likely to continue rising,\u201d he said. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> could be one of the greatest bull markets in history at a relatively discounted price to start 2H. Or the crypto may be a failing experiment in the process of being made redundant, like <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/crudeoil?src=hash&amp;ref_src=twsrc%5Etfw\">#crudeoil<\/a>. Our bias is Bitcoin adoption is more likely to continue rising <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/qtLRR6isXF\">pic.twitter.com\/qtLRR6isXF<\/a><\/p>\n<p>\u2014 Mike McGlone (@mikemcglone11) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/mikemcglone11\/status\/1544707775472828419?ref_src=twsrc%5Etfw\">July 6, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>McGlone likened the wash out in 1H to the \u201c2000-02&#8217;s bursting Internet bubble\u201d which saw many firms tank but also paved the way for top companies like Amazon and eBay to grow. <\/p>\n<p>Weighing over the analysis however is the fact the bearish conditions have been in large part in response to the U.S. Federal Reserve\u2019s hawkish monetary policy and inflation reel-in attempts via a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/watch-movies-tv-seriess\/\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Watch Movies &amp; TV Series\" target=\"_blank\" rel=\"noopener\">series<\/a> of interest rate hikes. <\/p>\n<p>In 2022, BTC and the overall crypto market has suffered from several macro factors such as the Russian invasion of Ukraine, global regulation and unemployment rates. Meanwhile crypto projects and companies imploding has turned sentiment even more bearish. <\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Crypto owners banned from working on US Government crypto policies<\/em><\/strong><\/p>\n<p>On June 5, McGlone noted that if the stock market keeps dropping in a \u201csimilar velocity as in 1H\u201d, the latest interest 75 basis point rate hike from the Fed in June could be the last one of the year, as the government works to avoid a recession. Such an outcome could result in a bounce across asset classes as investors re-enter the market. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">If stocks keep dropping at a similar velocity as in 1H, the June 75 bps hike may be the last. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/zHtLfuYoZg\">https:\/\/t.co\/zHtLfuYoZg<\/a><\/p>\n<p>\u2014 Mike McGlone (@mikemcglone11) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/mikemcglone11\/status\/1544069067912495104?ref_src=twsrc%5Etfw\">July 4, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bloomberg-analyst-tips-bullish-btc-recovery-in-next-six-months\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Bloomberg analyst tips bullish BTC recovery in next six months &#8220; Bloomberg\u2019s 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 followers on July 6, McGlone saw positive signs in the data Bloomberg\u2019s Galaxy&#8230;<\/p>\n","protected":false},"author":1,"featured_media":471383,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDcvZTBmM2IzOTUtYzk5Mi00ZDUwLWIxMWQtYWJmOWI1ODMyNjYxLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,75147,75164],"class_list":["post-471382","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-bloomberg","tag-price-analysis"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/471382","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=471382"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/471382\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/471383"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=471382"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=471382"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=471382"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}