Commodity strategist Mike McGlone has analyzed the market and suggested that crypto could be “facing their first real recession.”
What Happened: In a recent assessment posted on Twitter, McGlone said that the digital asset market was undergoing its first macroeconomic contraction since the introduction of Bitcoin (CRYPTO: BTC).
As the last contraction contributed to Bitcoin’s rise, McGlone believes similar turning points could be expected this time around.
Full story available on Benzinga.com