Bloomberg Analyst Predicts Huge Reversal in Gold, Bonds and Bitcoin as One Crypto 'Revolutionizes' Fintech.
06 Jun 2022, 08:00
Bloomberg Analyst Predicts Huge Reversal in Gold, Bonds and Bitcoin as One Crypto ‘Revolutionizes’ Fintech
Bloomberg’s veteran commodity analyst Mike McGlone is predicting an economic cataclysm that sees gold, US bonds and Bitcoin (BTC) rise from the ashes much stronger than before.
In a new interview with Kitco News, McGlone says he foresees what he calls a “great reversion” or a deep correction in risk-on assets like real estate and equities markets.
“I think what’s going to happen is the great reversion. It’s just getting started. It might be like the aftermath of 1929, [but] I think it’s going to be like the aftermath of 2008 [or] maybe like after the 1987 crash. It’s so overdue, and all risk assets, everywhere from condos in Miami and Toronto to the stock market. It’s just starting to happen and the greatest inflation in 40 years and most people’s lifetime is starting that.