Bloomberg's senior macro strategist, Mike McGlone, has made a concerning price prediction for Bitcoin in his latest report titled "Crypto Outlook, June 2023". McGlone suggests that Bitcoin's decline in value may continue due to prevailing patterns, various factors affecting the cryptocurrency market, and the US Federal Reserve's inclinations. He also highlights the significance of ongoing central bank rate hikes in shaping the future of Bitcoin and suggests that the market's optimism surrounding these rate hikes might be misplaced. McGlone's bearish outlook for Bitcoin underscores the inherent uncertainty in predicting the future of any financial asset.
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Bloomberg Strategist Predicts Bearish Trajectory for Bitcoin Amidst Central Bank Rate Hikes
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