Bloomberg Analyst Predicts Massive Bitcoin/Gold/Bonds Reversal

It’s been revealed that Bloomberg’s veteran commodity analyst Mike McGlone predicts an economic cataclysm that will see gold, US bonds, and Bitcoin (BTC) rise from the ashes much stronger than ever before.

In a new interview with Kitco News, McGlone said that 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.”

He continued and said this:

“It’s just starting to happen and the greatest inflation in 40 years and most people’s lifetime is starting that. Once we kind of get through that period, I think Bitcoin is going to become realized as one of the best assets on the planet to hold. That’s my base case…”

He also explained that his outlook is that some of the best assets to own these days are gold, US long bonds, and Bitcoin as well.

He said: “I think we’re going back to deflation and the best way to get deflation is to get a big spike up in prices and then flush them. That’s what we’re doing. We’re in the early days of flushing.”

With crypto markets set for a resurgence, the analyst says that Ethereum (ETH) has also earned its seat at the table alongside Bitcoin. McGlone cites massive crypto sectors like stablecoins and non-fungible tokens (NFTs) that rely on the Ethereum network to operate as evidence of its prominence.

Stay tuned for more news and make sure to check out the crypto market as well.