{"id":24047,"date":"2024-07-01T14:00:03","date_gmt":"2024-07-01T11:00:03","guid":{"rendered":"https:\/\/coinengineer.io\/?p=24047"},"modified":"2024-07-01T11:32:37","modified_gmt":"2024-07-01T08:32:37","slug":"mcglone-explains-what-will-happen-to-bitcoin-if-the-bubble-bursts","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/mcglone-explains-what-will-happen-to-bitcoin-if-the-bubble-bursts\/","title":{"rendered":"McGlone Explains What Will Happen to Bitcoin &#8220;If the Bubble Bursts&#8221;"},"content":{"rendered":"<p>Bloomberg&#8217;s commodity analyst Mike McGlone has assessed the potential impact of a market bubble bursting on <a href=\"https:\/\/coinengineer.net\/blog\/will-bitcoin-bounce-back-in-july\/\">Bitcoin<\/a> (BTC).<\/p>\n<p>McGlone suggests that Bitcoin, which has historically been one of the best-performing assets, could experience a downward correction if a market bubble bursts. He attributes this to the potential for risk-off sentiment to prevail in such a scenario.<\/p>\n<p><strong>McGlone&#8217;s observations include:<\/strong><\/p>\n<p>The Fed funds rate being around 2% above the Consumer Price Index (CPI), compared to the 20-year average of negative 1%, is considered restrictive.<\/p>\n<p>However, he notes that rising fiscal deficits seem unstoppable, which supports his view that gold could continue its upward trend against most commodities and possibly equities in the second quarter of the year.<\/p>\n<p>Bitcoin risks, which topped McGlone&#8217;s annual performance scorecard at the end of the first half, and the Bloomberg US Treasury 20+ total return index, which was at the bottom, could both experience some mean reversion in the second half.<\/p>\n<p>If commodities follow a normal path towards low pricing and risk assets rise slightly, there could be a trend towards deflation worthy of inflation reaching 2022 highs.<\/p>\n<p>As of this writing, Bitcoin, the world&#8217;s largest cryptocurrency, is on track to close the week with a loss of approximately 3.49%.<\/p>\n<p><em>You can freely share your thoughts and comments about the topic in the comment section. Additionally, please don\u2019 t forget to follow us on our\u00a0<a href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"><strong>Telegram<\/strong>,\u00a0<\/a><a href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"><strong>YouTube<\/strong><\/a>\u00a0and\u00a0<a href=\"https:\/\/twitter.com\/coinengineers\" target=\"_blank\" rel=\"nofollow noopener\"><strong>Twitter<\/strong><\/a>\u00a0channels for the latest\u00a0<a title=\"News\" href=\"https:\/\/coinengineer.net\/blog\/news\/\" data-internallinksmanager029f6b8e52c=\"7\">news<\/a>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bloomberg&#8217;s commodity analyst Mike McGlone has assessed the potential impact of a market bubble bursting on Bitcoin (BTC). McGlone suggests that Bitcoin, which has historically been one of the best-performing assets, could experience a downward correction if a market bubble bursts. He attributes this to the potential for risk-off sentiment to prevail in such a<\/p>\n","protected":false},"author":1,"featured_media":21971,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[61,1764,4932,1819],"class_list":["post-24047","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-bitcoin","tag-bloomberg","tag-cpi","tag-mike-mcglone"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>McGlone Explains What Will Happen to Bitcoin &quot;If the Bubble Bursts&quot; - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/mcglone-explains-what-will-happen-to-bitcoin-if-the-bubble-bursts\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"McGlone Explains What Will Happen to Bitcoin &quot;If the Bubble Bursts&quot; - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Bloomberg&#8217;s commodity analyst Mike McGlone has assessed the potential impact of a market bubble bursting on Bitcoin (BTC). 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