Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.
Bloomberg Intelligence’s senior macro strategist, Mike McGlone, has stated that the stock market needs to experience a crash before Bitcoin can regain its bullish momentum. McGlone believes that the recent positive correlation between Bitcoin and stocks has hindered the cryptocurrency’s potential. According to him, a “healthy” pullback in equity markets could act as a catalyst for Bitcoin to emerge as a safe-haven asset once again. As of now, Bitcoin has recovered from its mid-May crash and is trading at around $34,000. However, experts suggest that a stock market correction could trigger another rally in the cryptocurrency markets.
