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If Bitcoin (BTC) Stalls at $30,000, Here's What May Happen to Economy: Mike McGlone

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Unexpected Bitcoin tweet issued by Bloomberg's Mike McGlone. $BTC

McGlone believes that if Bitcoin fails to rise higher than the current $30,000 level, it may be a bad sign for the whole U.S. economy."If Bitcoin stalls, there may be a bigger issue" with Nasdaq

The expert reckons that should the flagship cryptocurrency, which many believe to be"the fastest horse in the race," stall in the $30,000 range despite the hype created by the potential launch of a BTC spot ETF, it may indicate bigger economic issues than the U.S. is seeing now.that since the end of Q1 this year, the Bitcoin price has risen by 5%, unlike the Nasdaq Composite index, which increased by almost 20%.

 

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