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Zenger
Zenger
Technology
Bibhu Pattnaik

Bitcoin Faces Crucial Test In Second Half Of 2023, Says Bloomberg Macro Strategist

Mike McGlone Bitcoin Crypto Stock Market Gold the Federal Reserve United States
Bitcoin physical commemorative coin, June 22, 2023, Yichang, Hubei, China. Bloomberg's macro strategist McGlone warned that, while the Federal Reserve was quick to ease monetary policy in past recessions, the central bank may be reluctant to do so this time due to high inflation. PHOTO BY COSTFOTO/GETTY IMAGES 

Bloomberg’s macro strategist Mike McGlone says Bitcoin (CRYPTO: BTC) will likely face a big test in the second half of 2023.

In a tweet on Thursday, McGlone said that, after a strong performance in the first half of the year, BTC will likely have to endure harsh recessionary conditions in the next six months.

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