Bloomberg's Mike McGlone Predicts Bitcoin Decline

user avatar

by Giorgi Kostiuk

2 years ago

Made with AI

  1. McGlone's Bearish Bitcoin Forecast
  2. Robert Kiyosaki Advocates for Bitcoin Investment
  3. Conclusion


    4. Mike McGlone from Bloomberg and Robert Kiyosaki have shared their views on Bitcoin's future and the global economy, highlighting their differing perspectives.

    McGlone's Bearish Bitcoin Forecast

    Mike McGlone, Bloomberg's senior commodity strategist, has issued a bearish forecast for Bitcoin. In the current situation, Bitcoin has been correlated with the Asian stock market. McGlone shared a chart illustrating that Bitcoin is moving in tandem with the Hang Seng Index. He believes the bottoms of this index and Bitcoin may be found lower than current levels, forecasting continued downside before they reach their nadirs.

    Bitcoin, Hang Seng Bottoms May Be Lower - Similar patterns in #Bitcoin and the Hang Seng Index could suggest further downside reversion before reaching nadirs.Mike McGlone

    Robert Kiyosaki Advocates for Bitcoin Investment

    Prominent financial expert and author of 'Rich Dad Poor Dad,' Robert Kiyosaki, endorsed Bitcoin in a recent tweet. Kiyosaki stressed the continuous increase of the U.S. national debt, which has been growing by $1 trillion every 100 days. He also pointed out that the interest on this debt is currently the country's biggest expense — over $1 trillion per year. 'The dollar is trash,' Kiyosaki tweeted, 'stop saving dollars... start saving Bitcoin... real money.' He also believes that alongside Bitcoin, it is worth adding gold and silver to one's portfolio, as all three are safe haven assets that can help survive hyperinflation.

    Conclusion

    The perspectives of Mike McGlone and Robert Kiyosaki highlight different aspects of the economic situation and Bitcoin's future. While McGlone predicts a decline, Kiyosaki sees Bitcoin and other assets as a refuge from economic turmoil. Both experts offer important insights for analyzing the cryptocurrency market and the global economy.

    The views of Mike McGlone and Robert Kiyosaki on Bitcoin underscore the diversity of expert opinions. Monitoring their perspectives can provide a better understanding of market processes.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Ledger Halts Sales Amid Fund Loss Investigations

Ledger has paused sales and shipments of its hardware wallets after reports of fund losses from customers in Southeast Asia who purchased devices from CryptoBilis.

user avatarJesper Sørensen

Project Eleven and Quantus Collaborate on Strongpoint for Future Crypto Custody

Project Eleven has partnered with Quantus to enhance crypto custody solutions through the integration of the Quantus Network into Strongpoint, targeting support for post-quantum cryptography by Q1 2027.

user avatarRajesh Kumar

Sui and Alibaba Cloud Collaborate on AI Agent Payment Integration

Sui and Alibaba Cloud are developing a payment model for AI agents to autonomously pay for cloud services using stablecoins.

user avatarLucas Weissmann

Moscow Exchange to Launch Cryptocurrency Trading on December 1

Moscow Exchange is set to begin offering cryptocurrency trading on December 1, 2023, following a new regulatory framework in Russia.

user avatarFilippo Romano

OSL Group Launches Tokenized USDGO Plus SP Fund

OSL Group has successfully tokenized the USDGO Plus SP fund, providing custody and distribution through its licensed platform in Hong Kong.

user avatarEmily Carter

PowerCompute Increases Bitcoin Production While Reducing Debt

PowerCompute mined 81 BTC in September 2023, a 37 BTC increase from last year, while reducing its secured debt from $237 million to $125 million.

user avatarKaterina Papadopoulou

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.