Bloomberg strategist predicts what will happen to Bitcoin in the next six months

Senior commodity strategist at Bloomberg Intelligence Mike McGlone made a prediction for the crypto and financial markets in the second half of 2022. He suggests that the Bitcoin, gold, and U.S. treasury long-bonds will become the biggest beneficiary of this deflationary environment. Who’d have thought, really? 

The expert shared his thoughts on Twitter, particularly recalling that plunging risk assets in 1H 2022 took away inflation in the USA at a “breakneck pace.” According to him, this may translate into pre-pandemic deflationary forces resurfacing in 2H 2022 and might impact current inflation rates.

Before that, McGlone said Bitcoin probably would dominate until the end of 2022. Specifically, he said that the current state of the fund market might not recover shortly, leaving space for risky assets. 

“With Bitcoin maturing alongside diminishing supply, investors should expect the assets to rebound towards $100k by 2022,” he said. 

At the time of writing, Bitcoin costs about $21k. Considering it broke through the 19k mark a few days ago, the coin is showing signs of recovery.