Analysis

Bloomberg Analyst Says Geopolitical Tensions Could Benefit USD, BTC, ETH

Bloomberg’s senior commodities strategist thinks that geopolitical tensions in Eastern Europe and the current macroeconomic landscape may not be a bad thing for Bitcoin (BTC) and Ethereum (ETH).

Mike McGlone to speak on Twitter that the current macroeconomic environment, including rising asset prices and inflation, could boost the value of Bitcoin and Ethereum this year.

“Bitcoin and Ethereum could find a solid bottom in 2022 as inflation and asset prices soar, as well as tensions around Russia and Ukraine. Top cryptocurrencies are showing strength versus stocks.”

Source: Mike McGlone/Twitter

According to McGlone, the armed conflict is in Europe to prove is for the US dollar. He also noted that dollar-pegged Ethereum-backed stablecoins could push the price of ETH higher.

“Ethereum’s ability to generate crypto dollars coupled with the increasing use of technology to trade greenbacks should help ETH prices rise going forward.”

Source: Mike McGlone/Twitter

However, commodity strategists superior that this week could be tough for BTC.

“Bitcoin is going to have a rough week – inflation is unlikely to fall unless risk assets fall. Most assets will experience a downswing in 2022 when anti-inflationary action is needed, but this year could mark another major milestone for Bitcoin.

Source: Mike McGlone/Twitter

Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.