Bitcoin is likely to become a risk-free asset in the second half of 2022, according to Bloomberg Analyst By Cointelegraph.

Mike McGlone, chief commodity strategist at Bloomberg, said in a recent interview with Cointelegraph that it is likely to shift from risky to risky assets in the second half of 2022 as the macroeconomic environment rapidly turns toward a recession. McGlone Expected:

“I see it transitioning to being a risky asset like bonds, then less risky assets like the stock market.”

According to the analyst, the cryptocurrency market has wiped out most of the speculative excesses that marked 2021 and is now preparing for a new high. McGlone also noted that the Fed’s hike in interest rates will push the global economy into deflationary recession, eventually favoring Bitcoin:

“I fully anticipate that we will face a severe recession globally, which will likely make bitcoin shine […] In addition to gold and long US Treasury bonds.

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