Bitcoin is at ‘800-Pound Gorilla’ downside risk, warns Bloomberg analyst Mike McGlone
Bloomberg analyst Mike McGlone warns on Thursday that Bitcoin is at risk of significant downside, facing pressure from rising interest rates and a potential drop below $25,000. “The key thing is 800-pound gorilla… the Federal Reserve is still tightening. So I think this process of reversion is in place.” McGlone believes that the tightening monetary […]
Ethereum’s massive adoption puts it on top in the battle for Stablecoins, says Bloomberg
According to a crypto market analyst at Bloomberg Intelligence, Jamie Coutts, Ethereum (ETH) is expected to emerge as the winner of the “stablecoin wars” due to its massive adoption trends. Coutts asserts that Ethereum, along with its layer-2 projects such as Optimism, Base, and Arbitrum, outperforms all other alternative networks in terms of network-adoption metrics. […]