J2022 has not been a good year for the cryptocurrency space as the bears continue to dominate and paint the markets red.
The market was impacted by the Terra (LUNA) crash, followed by several crypto credit companies filing for bankruptcy, as well as rising inflation and interest rate hikes.
The price action displayed by the market is not favorable. However, all hope is not lost. One of Bloomberg’s senior analysts and strategists, Mike McGlone, believes that Bitcoin (BTC) will see positive price action in the second half of the year.
The analyst took to Twitter to air his views. He said that Bitcoin is gearing up to outperform in the days ahead.
Additionally, McGlone claims that in the second half of 2022, Bitcoin and bonds could see a massive bull run.
These claims from the strategist emerge as he believes that Bitcoin is one of the fastest growing assets since its introduction. It suggests the asset may be on the verge of turning into global collateral.
Next, while talking about Bitcoin’s volatility relative to other assets, McGlone compares it to the Bloomberg Commodity Index (BCOM) and says this will push it to outperform in H2.