One closely-watched crypto analyst has predicted bitcoin will be 'one of the best assets on the planet' once risk assets begin to recover and the Fed turns dovish...
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Despite bitcoin potentially heading lower in the short term, McGlone said he expects the bitcoin price and the ethereum price to"outperform" eventually. The Fed said at the tail end of last year it would begin raising interest rates to combat persistently higher inflation than it had anticipated. Inflation eased slightly to 8.3% in April but remains at multi-decade highs.
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