{"id":539838,"date":"2023-01-17T06:53:22","date_gmt":"2023-01-17T03:53:22","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/btc-forming-bottom-akin-to-2018-with-one-key-difference-bloomberg-analyst\/"},"modified":"2023-01-17T06:53:22","modified_gmt":"2023-01-17T03:53:22","slug":"btc-forming-bottom-akin-to-2018-with-one-key-difference-bloomberg-analyst","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/btc-forming-bottom-akin-to-2018-with-one-key-difference-bloomberg-analyst\/","title":{"rendered":"# BTC forming bottom akin to 2018 with one key difference: Bloomberg analyst"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 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-6a279d8abacd4\" 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-6a279d8abacd4\" 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\/btc-forming-bottom-akin-to-2018-with-one-key-difference-bloomberg-analyst\/#%E2%80%9D_BTC_forming_bottom_akin_to_2018_with_one_key_difference_Bloomberg_analyst_%E2%80%9C\" >&#8221; BTC forming bottom akin to 2018 with one key difference: Bloomberg analyst &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_BTC_forming_bottom_akin_to_2018_with_one_key_difference_Bloomberg_analyst_%E2%80%9C\"><\/span>&#8221; BTC forming bottom akin to 2018 with one key difference: Bloomberg analyst &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-5a4050f8>Mike McGlone, Bloomberg&#8217;s senior commodity strategist believes Bitcoin (BTC) could be developing a\u00a0 &#8220;bottom&#8221; in the same way it did prior to 2019&#8217;s bull run but said there is a major difference this time around.<\/p>\n<p>During a Jan. 16 interview with crypto podcaster Scott Melker, McGlone argued unlike in 2018 when financial institutions such as the Federal Reserve were easing interest rates, this time they\u2019re still tightening along with &#8220;every central bank.&#8221;<\/p>\n<p>&#8220;Back then the Fed already started easing and we held the bottom and broke out higher and then we had that issue in 2019,&#8221; he said. <\/p>\n<p>&#8220;Right now they&#8217;re tightening aggressively, so you look at that and you can&#8217;t be too excited about any markets. Give it some time. Big picture, yes, really bullish Bitcoin,&#8221; McGlone added. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-01\/e11d3763-9785-46a5-b8d4-77db178c1dcb.JPG\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>Graph shared by McGlone showing Bitcoin market prices. Image: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=2668ldqyOFc\">YouTube<\/a><\/em><\/figcaption><\/figure>\n<p>McGlone also warned BTC might not see the surge being predicted just yet as there are challenging macroeconomic conditions and pressure from interest-rate hikes.\u00a0<\/p>\n<p>He believes the NASDAQ is likely to dip below its 200-week moving average, which he claims is another indication BTC\u2019s price rally may not h<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>en soon.<\/p>\n<blockquote><p>&#8220;Liquidity is being pulled away still and if the NASDAQ breaks down, everything breaks down, Bitcoin is going to be part of it.&#8221;<\/p><\/blockquote>\n<p>&#8220;I still think it&#8217;s going to come out ahead so to me that&#8217;s where we stand,&#8221; he added. <\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Arthur Hayes: Bitcoin bottomed as \u2018everyone who could go bankrupt has gone bankrupt\u2019<\/em><\/strong><\/p>\n<p>McGlone also said the market has entered an &#8220;unprecedented&#8221; environment, &#8220;where we&#8217;re having bounces in what we know are bear markets and the Fed just says, sorry we&#8217;re taking the punchbowl away, we&#8217;re not giving it get back to you.&#8221;<\/p>\n<p>&#8220;I still think we&#8217;re in the midst of the biggest macroeconomic reset of our lifetimes, we just had a 100-year event in terms of the pandemic, we&#8217;re having a historic war in Europe and we&#8217;re having a historic shift in political leadership in China,&#8221; he added. <\/p>\n<p>&#8220;I mean it&#8217;s going back to the days of the Soviet Union when you have one leader and are expecting to be economically viable.&#8221;<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/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\/btc-forming-bottom-akin-to-2018-with-one-key-difference-bloomberg-analyst\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; BTC forming bottom akin to 2018 with one key difference: Bloomberg analyst &#8220; Mike McGlone, Bloomberg&#8217;s senior commodity strategist believes Bitcoin (BTC) could be developing a\u00a0 &#8220;bottom&#8221; in the same way it did prior to 2019&#8217;s bull run but said there is a major difference this time around. During a Jan. 16 interview with&#8230;<\/p>\n","protected":false},"author":1,"featured_media":539839,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2023-01\/68a9bcfc-6aa1-4c49-b36f-6870421c7d6c.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,75147,74863,117],"class_list":["post-539838","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-bloomberg","tag-cryptocurrencies","tag-business"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/539838","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=539838"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/539838\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/539839"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=539838"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=539838"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=539838"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}