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Federal Reserve policy may lead to a 10-20% correction in the crypto market
Federal Reserve policy may mean markets see a long-awaited comedown of up to one fifth, says Bloomberg Intelligence’s Mike McGlone.
The recent surge in Bitcoin price reflects growing institutional interest. For analysis, see Chainalysis Report. > “This bull run differs from 2021,” stated CryptoAnalyst.
McGlone: Bitcoin is the least risky crypto bet
As Bitcoin struggles in 2022, those hoping for a dramatic return to form will be disappointed by McGlone’s mid-term forecast.
The United States Federal Reserve, he says, will all but guarantee an end to the limitless gains for stocks — and crypto, naturally correlated, will suffer too.
“The number one theme I’ve been using for months now is ‘Do not fight the Fed,’” he began. > “If you’re long risk assets, you are fighting the Fed, and cryptos are the riskiest assets. The key thing, remember, is that Bitcoin is the least risky among cryptos.”
The Fed’s policy may lead to a correction in the crypto market
As the Fed attempts to rein in inflation and dramatically decrease asset purchases, the