The party across global market might be coming to an end with Bitcoin positioned to be one of the assets with the potential to come on top. The shift in the U.S. Federal Reserve monetary policy will ripple across the stock market as interest rates spike and they reverse their asset purchase program. Related Reading | TA: Bitcoin Reaches Key Juncture, Why Recovery Won’t Be Easy At least, that’s how Mike McGlone, Senior Commodity Strategist for Bloomberg Intelligence views it. In a recent interview with Scott Melker’s “The Wolf Of All Streets” podcast, McGlone talked about Bitcoin as a risk-on asset, inflation, and the potential correction that will hit markets because of the change in FED policy. The expert reminded investor of the old adagio “Don’t Fight the Fed” which in the current macro-environment could translate to “don’t long risk assets”. For Bitcoin, this shift could lead it to transform from a risk on to a risk off asset. McGlone said the following on the financial institution’s coming policies to decrease inflation, sitting at its higher levels in 40 years, and what it could mean for Bitcoin in the long run: (…) the lesson I learned about the FED, what I think is happening in this case, is that will job on until the market does their job for them or they have to keep raising rates until markets go backwards, which mean the stock market (…). I think the game is over (for stocks). They (the FED) will be restrainin...
