The cryptocurrency market is currently consolidating its recent bullish advances, and senior commodity strategist at Bloomberg, Mike McGlone, has shared his analysis, suggesting that cryptocurrencies could be facing their first real recession.

McGlone believes that digital assets are going through their first macroeconomic contraction, which could lead to similar turning points seen with the rise of Bitcoin during the 2008 financial crisis.

McGlone compares the historical performance of the crypto and stock markets and says that a key question is how much price pain there will be before longer-term gains resume.

He suggests that the crypto market may not be spared if the risk-asset tide continues to recede, but if there is a soft landing, the Bloomberg Galaxy Crypto Index could resume outperforming equity indexes.

While McGlone is not yet bullish on digital assets in the short term, he believes that the flagship decentralized finance (DeFi) coin could reach six figures in the next couple of years.

Meanwhile, Robert Kiyosaki, author of “Rich Dad Poor Dad,” warns of a rough landing as negative news such as bankruptcy, unemployment, and homelessness increases. However, he also sees bargains in gold, silver, and Bitcoin.

For investors considering taking advantage of low prices during a recession to purchase cryptocurrency, it is important to weigh the risks and benefits and plan investment strategies accordingly.

With the help of a guide from Finbold, investors can make informed decisions when it comes to their investments in cryptocurrency.

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