The Current Interest Hike And Macro Conditions Are Factors That Might Make The Bitcoin Bullish Run Short-Lived

NASDAQ and Bitcoin has held close ties in recent years, taking that as tool which the senior macro strategist of Bloomberg says Mike McGlone says that the bullish run which the king crypto is currently experiencing might tone down base on two factors which is the current interest hike by Federal Reserve policy and it's challenging macro economic conditions which is putting pressure on risk assets such as bitcoin.

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In the short clip interview he has this to say that;

This is the NASDAQ. The NASDAQ is at its 200-week moving average. The 200-week moving average in the history of the NASDAQ since it can be calculated we only broke through that level three times. And every single time the Fed was easing. The last good example was 2008. Fed was easing aggressively.

Right now they’re tightening aggressively. So you look at that you can’t be too excited about any markets. Give it some time. Big picture, yes, really bullish [for] Bitcoin. But to me this is an environment that’s unprecedented where we’re having bounces in what we know are bear markets and the Fed just says, Sorry we’re taking the punchbowl away, we’re not giving it get back to you.

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