{"id":25384,"date":"2022-08-09T04:03:47","date_gmt":"2022-08-09T04:03:47","guid":{"rendered":"http:\/\/egrowonline.com\/?p=25384"},"modified":"2022-08-09T04:03:48","modified_gmt":"2022-08-09T04:03:48","slug":"bitcoin-likely-to-transition-to-a-risk-off-asset-in-h2-2022-says-bloomberg-analyst","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=25384","title":{"rendered":"Bitcoin likely to transition to a risk-off asset in H2 2022, says Bloomberg analyst"},"content":{"rendered":"<p> <br \/>\n<br \/><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDgvYzU3NDIxYjAtMmEwOC00NjU4LWE2NGUtMDFjOWVmNjhkMzVkLmpwZw==.jpg\" \/><\/p>\n<div data-v-28d77a7a=\"\">\n<p>Bitcoin is likely to transition from a risk-on to a risk-off asset in the second half of 2022, as the macroeconomic environment is rapidly shifting towards a recession, said Mike McGlone, senior commodity strategist at Bloomberg, in a recent interview with Cointelegraph. McGlone\u00a0predicted:<\/p>\n<blockquote><p>\u201c I see it transitioning to be more of a risk-off asset like bonds and gold, then less of a risk-on asset like the stock market.\u201d<\/p><\/blockquote>\n<p>According to the analyst, the crypto market has flushed out most of the speculative excesses that marked 2021 and it is now ripe for a fresh rally. McGlone also pointed out that the Fed&#8217;s aggressive hiking of interest rates will lead the global economy to a deflationary recession, which will ultimately favor Bitcoin:<\/p>\n<blockquote><p>\u201cI fully expect we&#8217;re going to have a pretty severe recession globally, which probably will make Bitcoin shine [&#8230;] along with gold and U.S. Treasury long bonds.&#8221;<\/p><\/blockquote>\n<p>Don&#8217;t forget to check out the full interview on our YouTube channel and don&#8217;t forget to subscribe!\u00a0<\/p>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/cointelegraph.com\/news\/bitcoin-likely-to-transition-to-a-risk-off-asset-in-h2-2022-says-bloomberg-analyst\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin is likely to transition from a risk-on to a risk-off asset in the second half of 2022, as the macroeconomic environment is rapidly shifting towards a recession, said Mike McGlone, senior commodity strategist at Bloomberg, in a recent interview with Cointelegraph. McGlone\u00a0predicted: \u201c I see it transitioning to be more of a risk-off asset [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":25385,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[37],"tags":[646,925,50,3212,882,3862],"class_list":["post-25384","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-analyst","tag-asset","tag-bitcoin","tag-bloomberg","tag-riskoff","tag-transition"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/08\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDgvYzU3NDIxYjAtMmEwOC00NjU4LWE2NGUtMDFjOWVmNjhkMzVkLmpwZw.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/25384","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=25384"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/25384\/revisions"}],"predecessor-version":[{"id":25386,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/25384\/revisions\/25386"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/25385"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=25384"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=25384"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=25384"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}