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Cryptocurrency News

Bullish BTC recovery in next six months

07/07/2022

Less than a minute

2022.07.07 10:15

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.