CandleFocus Bitcoin at Its Limit? Why This Bloomberg Expert Says This Might Be as Good as It Gets
2024-12-19
Author: Content Editor
Bloomberg commodities expert, Mike McGlone, believes that the current bullish market momentum for risk assets, including Bitcoin, may be reaching its limit. McGlone points to the strong performance of gold in 2024, which suggests that risk assets may soon face headwinds due to factors such as persistent inflation. The Federal Reserve's plans to keep interest rates higher for longer could also impact liquidity for risk assets. Despite a recent sell-off in the crypto market, some analysts, like Bitwise CIO Matt Hougan, remain positive and see internal momentum within the crypto market as having a greater impact than the Fed.
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