Investors in Bitcoin (BTC) and other cryptocurrency markets are worried about the bearish market that will continue throughout 2022.
However, the opinion of the popular media firm Bloomberg is contrary to the beliefs of other investors because according to him the price of BTC will rise even though for now BTC is still in a bearish market but it actually provides an opportunity for investors to get a discount price.
According to Bloomberg, the actions of the Federal Reserve in the fight against rising inflation have a negative impact on risk assets, but it is emphasized that the crypto market will experience a recovery after the Fed's tightening is over.
In addition, Bloomberg believes that the crude oil market has entered a full bear market due to its recent value performance below the 2008 high price, and that the crude oil market may even contribute to BTC's recovery process.
For context, Bloomberg Intelligence had made a similar emphasis on BTC in May 2021, even though BTC faced an aggressive decline along with other crypto markets in April.
In contrast, BTC fell by 45% to a low of $34,000 in May but Bloomberg Intelligence remains bullish even though most investors have started to panic about the situation.
The justification is that BTC is currently around the $19,500 level which is down 0.50% in the last 24 hours including the asset broke through the $20,000 support level and is now in a difficult situation, but Bloomberg remains bullish on BTC despite the increasingly alarming price drop in the market.
