Bitcoin Evaluation from Bloomberg Analyst

Bloomberg analyst Mike McGlone said that Bitcoin is at a crossroads in his evaluation.

Bitcoin Evaluation from Bloomberg Analyst. Bloomberg analyst Mike McGlone made evaluations about the downturn in the cryptocurrency markets. Stating that the leading cryptocurrency, which is trying to recover after the markets collapse, is at a turning point, McGlone also touched on the importance of the Fed's interest rate decision. The famous analyst stated that the Fed continues its courageous stance and that this is the resistance point for the crypto market. While the Fed continues to signal interest rate hikes, the leading cryptocurrency Bitcoin has dropped to $29,232 today, the lowest level since May 29. BTC appears to be on track to end another week in the red, adding to its record-breaking bearish chart. The Fed, which has increased the phase by 50 basis points, is expected to continue its tightening policy in order to reach the 2 percent inflation target.