{"id":536294,"date":"2023-06-02T18:30:46","date_gmt":"2023-06-02T18:30:46","guid":{"rendered":"https:\/\/uniquehot.com\/?p=536294"},"modified":"2024-06-11T08:13:30","modified_gmt":"2024-06-11T08:13:30","slug":"bloombergs-senior-macro-strategist-predicts-more-pain-ahead-for-bitcoin","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bloombergs-senior-macro-strategist-predicts-more-pain-ahead-for-bitcoin\/","title":{"rendered":"Bloomberg’s Senior Macro Strategist Predicts More Pain Ahead For Bitcoin"},"content":{"rendered":"

In his latest <\/span>report <\/span><\/a>titled “Crypto Outlook, June 2023,” Bloomberg’s Senior Macro Strategist, Mike McGlone, predicts more pain ahead for Bitcoin (BTC) and the broader cryptocurrency market. McGlone argues that despite a rebound in prices in 2023, the risks for the Bloomberg Galaxy Crypto Index remain tilted downward.<\/span><\/p>\n

Related Reading: No More Crab: Bitcoin Poised For Explosive Move Above $30,000<\/a><\/div>\n

Is Bitcoin Doomed?<\/span><\/h2>\n

According to McGlone, cryptocurrencies face several headwinds, including the potential for a US recession, a potential stock bear market, vigilant central banks, and high interest-rate competition. These factors, combined with the speculative excesses that led to the 2021 peak, suggest that the outlook for the crypto market is bearish.<\/span><\/p>\n

Furthermore, McGlone points out that Bitcoin weakening in May, along with copper and equities in China, is unusual compared to the stalwart Nasdaq 100 Stock Index. While the potential for the Nasdaq to lift all boats exists, it may contrast with still-rising Fed rate-hike expectations.\u00a0<\/span><\/p>\n

Additionally, McGlone suggests that Bitcoin, which is often referred to as digital gold due to its perceived status as a store of value, may not be able to outperform the traditional safe-haven asset in a US economic contraction. This is because Bitcoin is still relatively young compared to gold, which has been used as a store of value for thousands of years. As a result, investors may be more likely to flock to gold during times of economic uncertainty, rather than newer assets like Bitcoin.<\/span><\/p>\n

Moreover, plunging commodities, producer prices, and bank deposits may serve as deflationary omens of the lags to Federal Reserve tightening. These factors suggest that the risks for the Bloomberg Galaxy Crypto Index are tilted downward, and investors should be cautious.<\/span><\/p>\n

As <\/span>reported <\/span><\/a>by NewsBTC on May 22nd, Mike McGlone highlighted the historical patterns of boom and bust in Bitcoin, which are closely tied to liquidity. According to McGlone, Bitcoin’s current price level of around $27,000 may be at risk of reversion, considering that it was only $7,000 at the end of 2019 before the massive liquidity pump in 2020.<\/span><\/p>\n

McGlone’s analysis also indicates that Bitcoin’s downward trajectory, as demonstrated by its 52-week moving average, contrasts with the upward trend it experienced at the onset of the pandemic. This suggests that the cryptocurrency is susceptible to booms when liquidity is abundant but vulnerable to busts when liquidity is removed.<\/span><\/p>\n

McGlone’s latest analysis aligns with his previous thesis that the outlook for Bitcoin and the broader cryptocurrency market is bearish, given the potential for a US recession, a potential stock bear market, vigilant central banks, and high interest-rate competition.\u00a0<\/span><\/p>\n

Is BTC About To Take Off?<\/span><\/h3>\n

On the other hand, Crypto Con, a well-known crypto analyst, has recently expressed his continued bullishness on Bitcoin, citing the Pi Cycle Top indicator as evidence of the cryptocurrency’s potential for a continued uptrend.<\/span><\/p>\n

According <\/span><\/a>to Crypto Con, the Yellow 111days Moving Average (MA) has started to uptick, indicating that Bitcoin is experiencing a positive trend. Additionally, Bitcoin has been retesting the 111DMA line as support, rather than continuing on a parabolic trajectory, which is typically a sign of a market top.<\/span><\/p>\n

 <\/p>\n

\"Bitcoin
BTC’s Pi cycle top and bottom indicator. Source: Crypto Con on Twitter.<\/a><\/figcaption><\/figure>\n

Crypto Con acknowledges that sometimes the bounce can take some time, but he maintains that this is nothing but bullish for Bitcoin. This is because the Pi Cycle Top indicator is a reliable tool that has historically predicted major market tops and bottoms in the cryptocurrency market.<\/span><\/p>\n

Related Reading: Ripple CTO Schwartz Reveals Insights Into AMM Trading Strategy<\/a><\/div>\n

The Pi Cycle Top indicator measures the relationship between the 111DMA and the 350DMA, and when the two lines cross, it can suggest a potential market top or bottom. The fact that the Yellow 111DMA is showing an uptick suggests that Bitcoin may be headed for a market bottom, which is a bullish sign for investors.<\/span><\/p>\n

\"Bitcoin
BTC’s sideways price action over the last 24 hours on the 1-day chart. Source: BTCUSDT on TradingView.com<\/a><\/figcaption><\/figure>\n

At the time of writing, the largest cryptocurrency by market capitalization, Bitcoin, is trading at $27,000. Over the past 24 hours, BTC\u2019s price has remained relatively stable, exhibiting sideways price action with a minor increase of 0.1%.<\/span><\/p>\n

Featured image from iStock, chart from TradingView.com <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

In his latest report titled “Crypto Outlook, June 2023,” Bloomberg’s Senior Macro Strategist, Mike McGlone, predicts more pain ahead for Bitcoin (BTC) and the broader cryptocurrency market. McGlone argues that despite a rebound in prices in 2023, the risks for the Bloomberg Galaxy Crypto Index remain tilted downward. Related Reading: No More Crab: Bitcoin Poised For Explosive Move Above $30,000 Is Bitcoin Doomed? According to McGlone, cryptocurrencies face several headwinds, including the potential for a US recession, a potential stock bear market, vigilant central banks, and high interest-rate competition. These factors, combined with the speculative excesses that led to the 2021 peak, suggest that the outlook for the crypto market is bearish. Furthermore, McGlone points out that Bitcoin weakening in May, along with copper and equities in China, is unusual compared to the stalwart Nasdaq 100 Stock Index. While the potential for the Nasdaq to lift all boats exists, it may contrast with still-rising Fed rate-hike expectations.\u00a0 Additionally, McGlone suggests that Bitcoin, which is often referred to as digital gold due to its perceived status as a store of value, may not be able to outperform the traditional safe-haven asset in a US economic contraction. This is because Bitcoin is still relatively young compared to gold, which has been used as a store of value for thousands of years. As a result, investors may be more likely to flock to gold during times of economic uncertainty, rather than newer assets like Bitcoin. Moreover, plunging commodities, producer prices, and bank deposits may serve as deflationary omens of the lags to Federal Reserve tightening. These factors suggest that the risks for the Bloomberg Galaxy Crypto Index are tilted downward, and investors should be cautious. As reported by NewsBTC on May 22nd, Mike McGlone highlighted the historical patterns of boom and bust in Bitcoin, which are closely tied to liquidity. According to McGlone, Bitcoin’s current price level of around $27,000 may be at risk of reversion, considering that it was only $7,000 at the end of 2019 before the massive liquidity pump in 2020. McGlone’s analysis also indicates that Bitcoin’s downward trajectory, as demonstrated by its 52-week moving average, contrasts with the upward trend it experienced at the onset of the pandemic. This suggests that the cryptocurrency is susceptible to booms when liquidity is abundant but vulnerable to busts when liquidity is removed. McGlone’s latest analysis aligns with his previous thesis that the outlook for Bitcoin and the broader cryptocurrency market is bearish, given the potential for a US recession, a potential stock bear market, vigilant central banks, and high interest-rate competition.\u00a0 Is BTC About To Take Off? On the other hand, Crypto Con, a well-known crypto analyst, has recently expressed his continued bullishness on Bitcoin, citing the Pi Cycle Top indicator as evidence of the cryptocurrency’s potential for a continued uptrend. According to Crypto Con, the Yellow 111days Moving Average (MA) has started to uptick, indicating that Bitcoin is experiencing a positive trend. Additionally, Bitcoin has been retesting the 111DMA line as support, rather than continuing on a parabolic trajectory, which is typically a sign of a market top.   Crypto Con acknowledges that sometimes the bounce can take some time, but he maintains that this is nothing but bullish for Bitcoin. This is because the Pi Cycle Top indicator is a reliable tool that has historically predicted major market tops and bottoms in the cryptocurrency market. Related Reading: Ripple CTO Schwartz Reveals Insights Into AMM Trading Strategy The Pi Cycle Top indicator measures the relationship between the 111DMA and the 350DMA, and when the two lines cross, it can suggest a potential market top or bottom. The fact that the Yellow 111DMA is showing an uptick suggests that Bitcoin may be headed for a market bottom, which is a bullish sign for investors. At the time of writing, the largest cryptocurrency by market capitalization, Bitcoin, is trading at $27,000. Over the past 24 hours, BTC\u2019s price has remained relatively stable, exhibiting sideways price action with a minor increase of 0.1%. Featured image from iStock, chart from TradingView.com<\/p>\n","protected":false},"author":589,"featured_media":536296,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,679,78790,6664,1558],"class_list":["post-536294","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-price","tag-btcusdt","tag-crypto","tag-cryptocurrency"],"acf":[],"yoast_head":"\nBloomberg's Senior Macro Strategist Predicts More Pain Ahead For Bitcoin<\/title>\n<meta name=\"description\" content=\"In his latest report Bloomberg's Senior Macro Strategist, Mike McGlone, predicts more pain ahead for Bitcoin and the broader crypto market.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/uniquehot.com\/news\/bloombergs-senior-macro-strategist-predicts-more-pain-ahead-for-bitcoin\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bloomberg's Senior Macro Strategist Predicts More Pain Ahead For Bitcoin\" \/>\n<meta property=\"og:description\" content=\"In his latest report Bloomberg's Senior Macro Strategist, Mike McGlone, predicts more pain ahead for Bitcoin and the broader crypto market.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/uniquehot.com\/news\/bloombergs-senior-macro-strategist-predicts-more-pain-ahead-for-bitcoin\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2023-06-02T18:30:46+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-11T08:13:30+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/06\/iStock-1129173988.jpg?fit=1263%2C831\" \/>\n\t<meta property=\"og:image:width\" content=\"1263\" \/>\n\t<meta property=\"og:image:height\" content=\"831\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Ronaldo Marquez\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Rmmcapital\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ronaldo Marquez\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/uniquehot.com\/news\/bloombergs-senior-macro-strategist-predicts-more-pain-ahead-for-bitcoin\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/uniquehot.com\/news\/bloombergs-senior-macro-strategist-predicts-more-pain-ahead-for-bitcoin\/\"},\"author\":{\"name\":\"Ronaldo Marquez\",\"@id\":\"https:\/\/uniquehot.com\/#\/schema\/person\/23849d4cdb61b3b34c9e7e5fea0a9a6c\"},\"headline\":\"Bloomberg’s Senior Macro Strategist Predicts More Pain Ahead For Bitcoin\",\"datePublished\":\"2023-06-02T18:30:46+00:00\",\"dateModified\":\"2024-06-11T08:13:30+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/uniquehot.com\/news\/bloombergs-senior-macro-strategist-predicts-more-pain-ahead-for-bitcoin\/\"},\"wordCount\":727,\"publisher\":{\"@id\":\"https:\/\/uniquehot.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/uniquehot.com\/news\/bloombergs-senior-macro-strategist-predicts-more-pain-ahead-for-bitcoin\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/06\/iStock-1129173988.jpg?fit=1263%2C831\",\"keywords\":[\"bitcoin\",\"bitcoin price\",\"BTCUSDT\",\"crypto\",\"cryptocurrency\"],\"articleSection\":[\"Cryptocurrency Market News\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2023\",\"copyrightHolder\":{\"@id\":\"https:\/\/uniquehot.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/uniquehot.com\/news\/bloombergs-senior-macro-strategist-predicts-more-pain-ahead-for-bitcoin\/\",\"url\":\"https:\/\/uniquehot.com\/news\/bloombergs-senior-macro-strategist-predicts-more-pain-ahead-for-bitcoin\/\",\"name\":\"Bloomberg's Senior Macro Strategist Predicts More Pain Ahead For Bitcoin\",\"isPartOf\":{\"@id\":\"https:\/\/uniquehot.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/uniquehot.com\/news\/bloombergs-senior-macro-strategist-predicts-more-pain-ahead-for-bitcoin\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/uniquehot.com\/news\/bloombergs-senior-macro-strategist-predicts-more-pain-ahead-for-bitcoin\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/06\/iStock-1129173988.jpg?fit=1263%2C831\",\"datePublished\":\"2023-06-02T18:30:46+00:00\",\"dateModified\":\"2024-06-11T08:13:30+00:00\",\"description\":\"In his latest report Bloomberg's Senior Macro Strategist, Mike McGlone, predicts more pain ahead for Bitcoin and the broader crypto market.\",\"breadcrumb\":{\"@id\":\"https:\/\/uniquehot.com\/news\/bloombergs-senior-macro-strategist-predicts-more-pain-ahead-for-bitcoin\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/uniquehot.com\/news\/bloombergs-senior-macro-strategist-predicts-more-pain-ahead-for-bitcoin\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/uniquehot.com\/news\/bloombergs-senior-macro-strategist-predicts-more-pain-ahead-for-bitcoin\/#primaryimage\",\"url\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/06\/iStock-1129173988.jpg?fit=1263%2C831\",\"contentUrl\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/06\/iStock-1129173988.jpg?fit=1263%2C831\",\"width\":1263,\"height\":831,\"caption\":\"Recession ahead - road sign warning concept\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/uniquehot.com\/news\/bloombergs-senior-macro-strategist-predicts-more-pain-ahead-for-bitcoin\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/uniquehot.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Bloomberg’s Senior Macro Strategist Predicts More Pain Ahead For Bitcoin\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/uniquehot.com\/#website\",\"url\":\"https:\/\/uniquehot.com\/\",\"name\":\"NewsBTC\",\"description\":\"Bitcoin & Cryptocurrency News Today\",\"publisher\":{\"@id\":\"https:\/\/uniquehot.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/uniquehot.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/uniquehot.com\/#organization\",\"name\":\"NewsBTC\",\"url\":\"https:\/\/uniquehot.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/uniquehot.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46\",\"contentUrl\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46\",\"width\":157,\"height\":46,\"caption\":\"NewsBTC\"},\"image\":{\"@id\":\"https:\/\/uniquehot.com\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/newsbtc\",\"https:\/\/x.com\/newsbtc\",\"https:\/\/www.youtube.com\/channel\/UC9v9erBEru5y4c3FA0wehEw\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/uniquehot.com\/#\/schema\/person\/23849d4cdb61b3b34c9e7e5fea0a9a6c\",\"name\":\"Ronaldo Marquez\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/uniquehot.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/327ecc4c8e744ef573507a8dd49440d7?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/327ecc4c8e744ef573507a8dd49440d7?s=96&d=mm&r=g\",\"caption\":\"Ronaldo Marquez\"},\"description\":\"Ronaldo is an experienced crypto enthusiast dedicated to the nascent and ever-evolving industry. With over five years of extensive research and unwavering dedication, he has cultivated a profound interest in the world of cryptocurrencies. Ronaldo's journey began with a spark of curiosity, which soon transformed into a deep passion for understanding the intricacies of this groundbreaking technology. Driven by an insatiable thirst for knowledge, Ronaldo has delved into the depths of the crypto space, exploring its various facets, from blockchain fundamentals to market trends and investment strategies. His tireless exploration and commitment to staying up-to-date with the latest developments have granted him a unique perspective on the industry. One of Ronaldo's defining areas of expertise lies in technical analysis. He firmly believes that studying charts and deciphering price movements provides valuable insights into the market. Ronaldo recognizes that patterns exist within the chaos of crypto charts, and by utilizing technical analysis tools and indicators, he can unlock hidden opportunities and make informed investment decisions. His dedication to mastering this analytical approach has allowed him to navigate the volatile crypto market with confidence and precision. Ronaldo's commitment to his craft goes beyond personal gain. He is passionate about sharing his knowledge and insights with others, empowering them to make well-informed decisions in the crypto space. Ronaldo's writing is a testament to his dedication, providing readers with meaningful analysis and up-to-date news. He strives to offer a comprehensive understanding of the crypto industry, helping readers navigate its complexities and seize opportunities. Outside of the crypto realm, Ronaldo enjoys indulging in other passions. As an avid sports fan, he finds joy in watching exhilarating sporting events, witnessing the triumphs and challenges of athletes pushing their limits. Furthermore, His passion for languages extends beyond mere communication; he aspires to master German, French, Italian, and Portuguese, in addition to his native Spanish. Recognizing the value of linguistic proficiency, Ronaldo aims to enhance his work prospects, personal relationships, and overall growth. However, Ronaldo's aspirations extend far beyond language acquisition. He believes that the future of the crypto industry holds immense potential as a groundbreaking force in history. With unwavering conviction, he envisions a world where cryptocurrencies unlock financial freedom for all and become catalysts for societal development and growth. Ronaldo is determined to prepare himself for this transformative era, ensuring he is well-equipped to navigate the crypto landscape. Ronaldo also recognizes the importance of maintaining a healthy body and mind, regularly hitting the gym to stay physically fit. He immerses himself in books and podcasts that inspire him to become the best version of himself, constantly seeking new ways to expand his horizons and knowledge. With a genuine desire to become the best version of himself, Ronaldo is committed to continuous improvement. He sets personal goals, embraces challenges, and seeks opportunities for growth and self-reflection. Ultimately, combining his passion for cryptocurrencies, dedication to learning, and commitment to personal development, Ronaldo aims to go hand-in-hand with the exciting new era that the emerging crypto technology is bringing to the world and societies.\",\"sameAs\":[\"https:\/\/instagram.com\/itsmarquez_fr?igshid=ZDdkNTZiNTM=\",\"https:\/\/x.com\/Rmmcapital\"],\"url\":\"https:\/\/uniquehot.com\/author\/ronaldomarquez\/\"}]}<\/script>\n","yoast_head_json":{"title":"Bloomberg's Senior Macro Strategist Predicts More Pain Ahead For Bitcoin","description":"In his latest report Bloomberg's Senior Macro Strategist, Mike McGlone, predicts more pain ahead for Bitcoin and the broader crypto market.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/uniquehot.com\/news\/bloombergs-senior-macro-strategist-predicts-more-pain-ahead-for-bitcoin\/","og_locale":"en_US","og_type":"article","og_title":"Bloomberg's Senior Macro Strategist Predicts More Pain Ahead For Bitcoin","og_description":"In his latest report Bloomberg's Senior Macro Strategist, Mike McGlone, predicts more pain ahead for Bitcoin and the broader crypto market.","og_url":"https:\/\/uniquehot.com\/news\/bloombergs-senior-macro-strategist-predicts-more-pain-ahead-for-bitcoin\/","og_site_name":"NewsBTC","article_publisher":"https:\/\/www.facebook.com\/newsbtc","article_published_time":"2023-06-02T18:30:46+00:00","article_modified_time":"2024-06-11T08:13:30+00:00","og_image":[{"width":1263,"height":831,"url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/06\/iStock-1129173988.jpg?fit=1263%2C831","type":"image\/jpeg"}],"author":"Ronaldo Marquez","twitter_card":"summary_large_image","twitter_creator":"@Rmmcapital","twitter_site":"@newsbtc","twitter_misc":{"Written by":"Ronaldo Marquez","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/uniquehot.com\/news\/bloombergs-senior-macro-strategist-predicts-more-pain-ahead-for-bitcoin\/#article","isPartOf":{"@id":"https:\/\/uniquehot.com\/news\/bloombergs-senior-macro-strategist-predicts-more-pain-ahead-for-bitcoin\/"},"author":{"name":"Ronaldo Marquez","@id":"https:\/\/uniquehot.com\/#\/schema\/person\/23849d4cdb61b3b34c9e7e5fea0a9a6c"},"headline":"Bloomberg’s Senior Macro Strategist Predicts More Pain Ahead For Bitcoin","datePublished":"2023-06-02T18:30:46+00:00","dateModified":"2024-06-11T08:13:30+00:00","mainEntityOfPage":{"@id":"https:\/\/uniquehot.com\/news\/bloombergs-senior-macro-strategist-predicts-more-pain-ahead-for-bitcoin\/"},"wordCount":727,"publisher":{"@id":"https:\/\/uniquehot.com\/#organization"},"image":{"@id":"https:\/\/uniquehot.com\/news\/bloombergs-senior-macro-strategist-predicts-more-pain-ahead-for-bitcoin\/#primaryimage"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/06\/iStock-1129173988.jpg?fit=1263%2C831","keywords":["bitcoin","bitcoin price","BTCUSDT","crypto","cryptocurrency"],"articleSection":["Cryptocurrency Market News"],"inLanguage":"en-US","copyrightYear":"2023","copyrightHolder":{"@id":"https:\/\/uniquehot.com\/#organization"}},{"@type":"WebPage","@id":"https:\/\/uniquehot.com\/news\/bloombergs-senior-macro-strategist-predicts-more-pain-ahead-for-bitcoin\/","url":"https:\/\/uniquehot.com\/news\/bloombergs-senior-macro-strategist-predicts-more-pain-ahead-for-bitcoin\/","name":"Bloomberg's Senior Macro Strategist Predicts More Pain Ahead For Bitcoin","isPartOf":{"@id":"https:\/\/uniquehot.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/uniquehot.com\/news\/bloombergs-senior-macro-strategist-predicts-more-pain-ahead-for-bitcoin\/#primaryimage"},"image":{"@id":"https:\/\/uniquehot.com\/news\/bloombergs-senior-macro-strategist-predicts-more-pain-ahead-for-bitcoin\/#primaryimage"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/06\/iStock-1129173988.jpg?fit=1263%2C831","datePublished":"2023-06-02T18:30:46+00:00","dateModified":"2024-06-11T08:13:30+00:00","description":"In his latest report Bloomberg's Senior Macro Strategist, Mike McGlone, predicts more pain ahead for Bitcoin and the broader crypto market.","breadcrumb":{"@id":"https:\/\/uniquehot.com\/news\/bloombergs-senior-macro-strategist-predicts-more-pain-ahead-for-bitcoin\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/uniquehot.com\/news\/bloombergs-senior-macro-strategist-predicts-more-pain-ahead-for-bitcoin\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/uniquehot.com\/news\/bloombergs-senior-macro-strategist-predicts-more-pain-ahead-for-bitcoin\/#primaryimage","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/06\/iStock-1129173988.jpg?fit=1263%2C831","contentUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/06\/iStock-1129173988.jpg?fit=1263%2C831","width":1263,"height":831,"caption":"Recession ahead - road sign warning concept"},{"@type":"BreadcrumbList","@id":"https:\/\/uniquehot.com\/news\/bloombergs-senior-macro-strategist-predicts-more-pain-ahead-for-bitcoin\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/uniquehot.com\/"},{"@type":"ListItem","position":2,"name":"Bloomberg’s Senior Macro Strategist Predicts More Pain Ahead For Bitcoin"}]},{"@type":"WebSite","@id":"https:\/\/uniquehot.com\/#website","url":"https:\/\/uniquehot.com\/","name":"NewsBTC","description":"Bitcoin & Cryptocurrency News Today","publisher":{"@id":"https:\/\/uniquehot.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/uniquehot.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/uniquehot.com\/#organization","name":"NewsBTC","url":"https:\/\/uniquehot.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/uniquehot.com\/#\/schema\/logo\/image\/","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46","contentUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46","width":157,"height":46,"caption":"NewsBTC"},"image":{"@id":"https:\/\/uniquehot.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/newsbtc","https:\/\/x.com\/newsbtc","https:\/\/www.youtube.com\/channel\/UC9v9erBEru5y4c3FA0wehEw"]},{"@type":"Person","@id":"https:\/\/uniquehot.com\/#\/schema\/person\/23849d4cdb61b3b34c9e7e5fea0a9a6c","name":"Ronaldo Marquez","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/uniquehot.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/327ecc4c8e744ef573507a8dd49440d7?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/327ecc4c8e744ef573507a8dd49440d7?s=96&d=mm&r=g","caption":"Ronaldo Marquez"},"description":"Ronaldo is an experienced crypto enthusiast dedicated to the nascent and ever-evolving industry. With over five years of extensive research and unwavering dedication, he has cultivated a profound interest in the world of cryptocurrencies. Ronaldo's journey began with a spark of curiosity, which soon transformed into a deep passion for understanding the intricacies of this groundbreaking technology. Driven by an insatiable thirst for knowledge, Ronaldo has delved into the depths of the crypto space, exploring its various facets, from blockchain fundamentals to market trends and investment strategies. His tireless exploration and commitment to staying up-to-date with the latest developments have granted him a unique perspective on the industry. One of Ronaldo's defining areas of expertise lies in technical analysis. He firmly believes that studying charts and deciphering price movements provides valuable insights into the market. Ronaldo recognizes that patterns exist within the chaos of crypto charts, and by utilizing technical analysis tools and indicators, he can unlock hidden opportunities and make informed investment decisions. His dedication to mastering this analytical approach has allowed him to navigate the volatile crypto market with confidence and precision. Ronaldo's commitment to his craft goes beyond personal gain. He is passionate about sharing his knowledge and insights with others, empowering them to make well-informed decisions in the crypto space. Ronaldo's writing is a testament to his dedication, providing readers with meaningful analysis and up-to-date news. He strives to offer a comprehensive understanding of the crypto industry, helping readers navigate its complexities and seize opportunities. Outside of the crypto realm, Ronaldo enjoys indulging in other passions. As an avid sports fan, he finds joy in watching exhilarating sporting events, witnessing the triumphs and challenges of athletes pushing their limits. Furthermore, His passion for languages extends beyond mere communication; he aspires to master German, French, Italian, and Portuguese, in addition to his native Spanish. Recognizing the value of linguistic proficiency, Ronaldo aims to enhance his work prospects, personal relationships, and overall growth. However, Ronaldo's aspirations extend far beyond language acquisition. He believes that the future of the crypto industry holds immense potential as a groundbreaking force in history. With unwavering conviction, he envisions a world where cryptocurrencies unlock financial freedom for all and become catalysts for societal development and growth. Ronaldo is determined to prepare himself for this transformative era, ensuring he is well-equipped to navigate the crypto landscape. Ronaldo also recognizes the importance of maintaining a healthy body and mind, regularly hitting the gym to stay physically fit. He immerses himself in books and podcasts that inspire him to become the best version of himself, constantly seeking new ways to expand his horizons and knowledge. With a genuine desire to become the best version of himself, Ronaldo is committed to continuous improvement. He sets personal goals, embraces challenges, and seeks opportunities for growth and self-reflection. Ultimately, combining his passion for cryptocurrencies, dedication to learning, and commitment to personal development, Ronaldo aims to go hand-in-hand with the exciting new era that the emerging crypto technology is bringing to the world and societies.","sameAs":["https:\/\/instagram.com\/itsmarquez_fr?igshid=ZDdkNTZiNTM=","https:\/\/x.com\/Rmmcapital"],"url":"https:\/\/uniquehot.com\/author\/ronaldomarquez\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bloomberg’s Senior Macro Strategist Predicts More Pain Ahead For Bitcoin","url":"http:\/\/uniquehot.com\/news\/bloombergs-senior-macro-strategist-predicts-more-pain-ahead-for-bitcoin\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bloombergs-senior-macro-strategist-predicts-more-pain-ahead-for-bitcoin\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/06\/iStock-1129173988.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/06\/iStock-1129173988.jpg?fit=1263%2C831"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Ronaldo Marquez"}],"creator":["Ronaldo Marquez"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin price","btcusdt","crypto","cryptocurrency"],"dateCreated":"2023-06-02T18:30:46Z","datePublished":"2023-06-02T18:30:46Z","dateModified":"2024-06-11T08:13:30Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bloomberg’s Senior Macro Strategist Predicts More Pain Ahead For Bitcoin\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bloombergs-senior-macro-strategist-predicts-more-pain-ahead-for-bitcoin\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bloombergs-senior-macro-strategist-predicts-more-pain-ahead-for-bitcoin\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/06\\\/iStock-1129173988.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/06\\\/iStock-1129173988.jpg?fit=1263%2C831\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Ronaldo Marquez\"}],\"creator\":[\"Ronaldo Marquez\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin price\",\"btcusdt\",\"crypto\",\"cryptocurrency\"],\"dateCreated\":\"2023-06-02T18:30:46Z\",\"datePublished\":\"2023-06-02T18:30:46Z\",\"dateModified\":\"2024-06-11T08:13:30Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/06\/iStock-1129173988.jpg?fit=1263%2C831","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/536294"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/589"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=536294"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/536294\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/536296"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=536294"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=536294"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=536294"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}