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Bloomberg analyst tips bullish BTC recovery in next six months

Published 07/07/2022, 01:25 AM
Updated 07/07/2022, 03:00 AM
Bloomberg analyst tips bullish BTC recovery in next six months
TWTR
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BTC/USD
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Bloomberg’s senior commodity strategist Mike McGlone is tipping that the price of Bitcoin (BTC) will rebound in the second half (2H) of 2022.

Sharing his thoughts to his 48,100 Twitter (NYSE:TWTR) followers on July 6, McGlone saw positive signs in the data Bloomberg’s Galaxy Crypto Index (BGCI) and the 50-week and 100-week moving averages of BTC’s price. He suggested that the current indicators are showing similar signs to the bottom of the bear market in 2018, which preceded a strong rebound in the first half of 2019.

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