Mike McGlone -Market May be Suffering but Bitcoin and Ethereum Will Pull Back Stronger
Gotta love what McGlone says here, not only does he say Bitcoin and Ethereum will be back stronger but his take on “dog coins” is great haha
Market May Be Suffering But Bitcoin And Ethereum Will Pull Back Stronger, Bloomberg Analyst
“’Here’s my prediction: the markets pull back,” said Mike McGlone. “We finally get a 10%, maybe 20%, correction in the stock market. All correlations are one, which is usually the way it works. Bitcoin comes out better off for it. Ethereum, potentially too.’
This pullback though is only reflected on the top two cryptos which McGlone expects to recover after this.”
And later – “McGlone especially focused on dog coins which were arguably the winners of 2021. The craze which saw various meme tokens with no utility whatsoever soar to billions of dollars in valuation was referred to as ‘stupid’ by the Bloomberg analyst.
‘The rest of the space, we do have to admit, the speculation you saw in the dog coins last year was indicative of this. It’s just stupid and we’re going to tell the story to our grandkids,’ he said.”