U.Today – Mike McGlone, senior commodities strategist at Bloomberg, issued a despondent statement about the world’s largest cryptocurrency, .
In the current situation, Bitcoin has been pegged to the Asian stock market.
McGlone’s Bearish Outlook for Bitcoin
The Bloomberg expert shared a chart to show that Bitcoin is currently moving in tandem with . They cross the chart in tandem, with BTC mirroring the index’s movements almost identically.
The Hang Seng is a leading Hong Kong stock market index that tracks daily changes in the largest local companies listed on the Hong Kong Stock Exchange. The Hang Seng Index is a key indicator of how well the Hong Kong Stock Exchange is doing.
McGlone believes that the lows for this index and bitcoin could be lower than they are now, and as a result, their downward moves could continue before they reach their lowest levels.
Earlier this year, McGlone tweeted that gold could surpass its digital counterpart, Bitcoin, this year.
Stop Saving Dollars, Buy Bitcoins: Robert Kiyosaki
Prominent financial expert and author of the renowned financial education book “Rich Dad Poor Dad”, Robert Kiyosaki, recently endorsed Bitcoin on Twitter.
Kiyosaki emphasized the continued growth of the US national debt. The expert reminded the community that the debt has recently increased by a staggering $1 trillion every 100 days.
He also noted that interest on that debt is now the nation’s largest expense, at more than $1 trillion a year. “The dollar is garbage,” he tweeted. “Stop saving dollars… start saving Bitcoin… real money.”
Kiyosaki also believes that in addition to Bitcoin, it is worth adding gold and silver to your portfolio, as all three are secure assets that can lend a hand survive hyperinflation.
