Crypto Faces its First Real Recession, Says Commodity Strategist Mike McGlone

At present, cryptocurrency investors have taken a sigh of relief as the market seems to be rerouted to a positive price movement. However, not everyone is so optimistic and jolly about the direction the crypto sector is headed.

One such person is Mike McGlone, who is a well-known commodity markets expert associated with the financial publication house Bloomberg.

In his latest article, McGlone has exclaimed that cryptocurrency markets are undergoing their first recession period. He used the words macroeconomic contraction to define the phenomenon. It is worth noting that the last time such an event happened, it resulted in the creation and introduction of Bitcoin.


Bitcoin Revolution is a crypto trading tool for investing in the crypto market with an %88 average win rate on trades and is the #1 trading software for crypto traders from all around the globe in 2022. Try it For FREE Today. 


The debate about whether cryptocurrencies should be categorized as commodities or securities is still not settled. However, it has not stopped McGlone from shedding his two cents on the matter. He has recently posted on Twitter that crypto is facing the first official recession, which accounts for the lower prices and increased price volatility.

He further noted that the last economic contraction event in the USA and the financial crisis resulting from it paved the way for the introduction of Bitcoin. He was referring to the financial crisis of 2008 created by the bursting of the housing bubble. He expressed optimism that the current economic cleanse might help the financial markets achieve the same goals.

Comparing the stock and crypto markets while sharing a snap of NASDAQ-100 departing a 200-MA. He noted that the index dipped 70% lower in 2022 while it was down by 40% in 2019. He has projected that Bitcoin could become a 6 figure currency in the next few years.

Robert Kiyosaki’s Warning

Along the same lines, Robert Kiyosaki has also issued a warning about the approaching rough patch that could be countered with Bitcoin, Gold, and silver investing. Investors can take advantage of the lowered prices of cryptocurrencies during the recession and proceed carefully by creating and editing their investment strategies.


start trading

Best Forex World is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Some of the content on this site (not all) is paid content that is not written by our authors and the views expressed do not reflect the views of this website. Any disputes you may have with brands or companies mentioned in our content will need to be taken care of directly with the specific brands and companies. The responsibility of our readers who may click links in our content and ultimately sign up for that product or service is their own. Cryptocurrencies, NFTs and Crypto Tokens are all a high-risk asset, investing in them can lead to losses. Readers should do their own research before taking any action.


Previous post National Australian Bank (NAB) Becomes Second Australian Bank to Issue a Stablecoin
Next post Wall Street Giant Goldman Sachs Nominates Bitcoin as the Top-performing Asset of 2023