Key highlights:
- Mike McGlone said Bitcoin is in a limbo amid Fed policy and high stock valuations
- He warned that a 20% S&P 500 correction could push BTC down to $10,000
- Bank of America’s valuation model also points to weak long-term stock returns ahead
Mike McGlone, a senior strategist at Bloomberg Intelligence, warned that Bitcoin’s recent recovery could be masking a major problem. The
Meanwhile, not everyone reads the situation the same way. Some experts are of the opinion that Bitcoin has already weathered the Fed’s rate hike storm and is pushing strong.
Source:: Bloomberg Analyst Warns Bitcoin Faces "Lose-Lose" Setup as Stocks Hit New Highs