Mike McGlone

Mike McGlone — Hedge Funds Push Gold Toward $3K Amid Global Market Uncertainty

September 26, 2024 Bitcoin.com

Mike McGlone — Hedge Funds Push Gold Toward K Amid Global Market Uncertainty

bitcoin.com

In a recent interview, Mike McGlone, Senior Commodity Strategist at Bloomberg Intelligence, emphasized the significant role of hedge funds in gold’s ongoing price surge. McGlone shared his insights on the impact of macroeconomic factors, including China’s economic slowdown and the Federal Reserve’s monetary policies, on the commodities market. Gold Eyes $3,000 Mark Amid Hedge Fund […]

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Bloomberg’s Mike McGlone: Recession Fears Could Drive Gold to $3,000

August 9, 2024 Bitcoin.com

Bloomberg’s Mike McGlone: Recession Fears Could Drive Gold to ,000

2008 Crisis

In a recent interview with Kitco News, Mike McGlone, Senior Commodity Strategist at Bloomberg Intelligence, warned that the current economic situation might surpass the 2008 financial crisis in severity. Drawing comparisons to pre-2008 indicators, McGlone highlighted significant risks of increased stock market volatility and global recession, particularly emphasizing economic challenges in China. He suggested that […]

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Bloomberg Strategist Sees Bitcoin as Global Alternative Currency — Warns Stock Market Drawdown Could Impact BTC

March 2, 2024 Bitcoin.com

bitcoin futures

Bloomberg Intelligence’s senior commodity strategist, Mike McGlone, says bitcoin is “becoming an alternative currency on a global basis,” noting that “The world’s going towards intangible assets and bitcoin is the most significant in cryptos.” However, the strategist warned that as bitcoin’s price approaches $70,000, a key test for the cryptocurrency may come “when the U.S. […]

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Bloomberg Analyst Mike McGlone Issues Bitcoin Warning, Says ETF Hype Feels Like Previous Price Tops

January 8, 2024 The Daily Hodl

Bitcoin

Bloomberg Intelligence’s senior macro strategist Mike McGlone is warning that Bitcoin (BTC) is topping out and about to undergo a market correction. In a new discussion with crypto influencer Scott Melker, McGlone predicts that Bitcoin will start to decline after a months-long rally leading up to the possible approval of a spot Bitcoin exchange-traded fund […]

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Bloomberg Analyst Issues Bitcoin Warning, Says BTC ‘Coiled to Move’ – Here’s His Forecast

October 17, 2023 The Daily Hodl

Bitcoin

A Bloomberg analyst is issuing a warning to traders, saying that Bitcoin (BTC) is winding up to make a big move. Bloomberg Intelligence’s senior macro strategist Mike McGlone tells his 61,300 followers on the social media platform X that the king crypto is as “coiled” up in between a narrow range between major moving averages, […]

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Bitcoin Could Plunge by Over 60% as One Massive Risk Looms, According to Bloomberg Analyst Mike McGlone

October 5, 2023 The Daily Hodl

Bitcoin

Bloomberg Intelligence senior macro strategist Mike McGlone says Bitcoin (BTC) could be staring down the barrel of a 60% price plunge. McGlone says the key indicator for BTC is that liquidity remains negative and global rates continue to rise “despite recession signals.” The analyst still believes the US will endure a recession by the end […]

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Bitcoin Facing an ‘800-Pound Gorilla’ Downside Risk, Says Bloomberg Analyst Mike McGlone – Here Are His Targets

September 22, 2023 The Daily Hodl

Bitcoin

Bloomberg Intelligence’s senior macro strategist Mike McGlone is issuing a warning on the value of Bitcoin (BTC). In a new Understanding Macro interview, McGlone says that Bitcoin is now facing a monetary policy environment of rising interest rates after coming of age in an era of historically low-interest rates. According to the macro analyst, the […]

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Bitcoin Mirroring 1930 Stock Market Crash, Tech Progress From Nearly 100 Years Ago: Bloomberg Analyst

August 23, 2023 The Daily Hodl

Bitcoin

Bloomberg Intelligence’s senior macro strategist Mike McGlone warns that Bitcoin’s (BTC) parabolic ascent over the last decade or so looks eerily similar to the 1929 stock market bubble. McGlone says that the high-interest rate environment reminds him of the conditions that led to the collapse of the stock market in 1930. The analyst shares a […]

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Days of ‘Big Bitcoin Pumps’ Are Over, According to Bloomberg Macro Strategist – Here’s Why

August 22, 2023 The Daily Hodl

Bitcoin

Bloomberg Intelligence senior macro strategist Mike McGlone thinks the time of large Bitcoin (BTC) pumps is over. McGlone tells his 59,400 followers on the social media platform X that Bitcoin’s volatility has more room to decline than most traditional assets, which could reduce the top crypto asset’s relative risk. “At about 3x that of gold, my […]

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Bloomberg Strategist Says Greatest Rug Pull of Liquidity Ever Pushing US Into Recession and Bitcoin Into Correction

August 14, 2023 The Daily Hodl

Bitcoin

Bloomberg Intelligence’s senior macro strategist Mike McGlone says that a liquidity crunch will soon push the economy into a recession and cause a Bitcoin (BTC) correction. In a new interview with crypto influencer Scott Melker, McGlone predicts that the Federal Reserve will remain hawkish at least for the rest of 2023 to draw down inflation […]

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