# Bitcoin’s Risk-To-Reward Flashing Bullish for 2-H of Y 2022

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Last modified: 2022-07-06

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By Paul Ebeling · 2022-07-06
Tags: Shayne Heffernan on Investments, Luxury, risk, reward, Bullish, Lifestyle, Headline News, Paul Ebeling, Bitcoin, Crypto, Education, crypto, Bloomberg, Bitcoin, Knightsbridge Insights, Living, Knightsbridge, Featured, 2022, Business
Signed: no (published before platform launch).
Nothing in this article is investment advice.

#crypto #risk #reward #bullish

$BTCUSD

*"A leading Wall Street commodities strategist says that 2-H of this year could be Bitcoin’s time to shine, after nearly 8 months of bearish price movement"*-- Paul Ebeling

Analyst Mike McGlone tells his 47,000 Twitter followers that Bloomberg’s Galaxy Crypto Index, which follows a basket of the largest cryptocurrencies to track the market’s overall performance, is mirroring its behavior from the Y 2018 bear market bottom.

*“With the Bloomberg Galaxy Crypto Index nearing a similar drawdown as the 2018 bottom and Bitcoin’s discount to its 50- and 100-week moving averages similar to past foundations, risk vs. reward is tilting toward responsive investors in 2H.”*

Mr. McGlone likens the current state of the crypto market to the internet bubble of the early 2000s. According to the analyst, a similar cycle is playing out whereby over-valued projects get purged from the space before the market reverses course on a long-term uptrend.

*“Midyear outlook [on] crypto assets – A common theme in cryptos is to embrace the bear and build a better financial system, notably from the institutional and longer-term focused, akin to 2000-02’s bursting internet bubble. Purging the excesses was the state of all risk assets in 1H.”*

A tip of the hat to sovereign individuals with satoshis and Bitcoin in cold storage with our firm. [Click here](https://knights.app/login)

[*Chec*](http://crypto.livetradingnews.com/en)[k Price Action](http://crypto.livetradingnews.com/en)

Have a prosperous day, Keep the Faith!

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