Senior Market Strategist Says Bitcoin Is Proving Its Value Despite Facing Rate Hike Headwinds
Mike McGlone, a senior commodities analyst, has argued that long risk assets may be battling against the Federal Reserve (Fed). The commodities expert points out that Bitcoin may be the most risky investments among those available, facing headwinds as predictions of a rate-hike mount. However, McGlone also acknowledged “Bitcoin is proving its value” in a manner similar to that of 2020, when trading on the decentralized crypto network was very fluid in comparison to halts and limits in equities futures....