Mike McGlone spoke with Dave Weisberger and Scott Melker about bitcoin (BTC), this April 3. During the interview, the crypto analyst described Bitcoin as a strong asset that will not back down to regulatory pressures. He praised the flagship crypto and suggested that it is more reliable than several other digital assets.
Decentralization: the formidable weapon of BTC?
As Bitcoin looks poised for a 2024 boom, crypto analyst Mike McGlone says it’s untouchable. He estimates that Regulators Can’t Destroy Flagship Crypto as they would with ether for example. McGlone indicated that the strength of bitcoin (BTC) is that it is more decentralized than other cryptos. Among these, he cited ether (ETH).
McGlone explained: There’s so much disdain about regulators going against the whole space, and that’s the key point where bitcoin stands out. “. He emphasized: We can’t do anything to him, we can’t kill him and that’s unprecedented; he is untouchable “.
Comparison of Bitcoin with Ethereum
The analyst added : “ You could say Ethereum is safe when you hear about all these updates and people doing this and that to make it better. I’m like okay, it’s kinda scary, you can’t do that on Bitcoin, that’s why it’s good and awesome.”
In this context, McGlone thinks it’s stupid not to be exposed to bitcoin. He stated: “ If you’re a fund manager, why risk not having some of this game-changing asset, especially since it’s so controversial […]because you don’t want to look like an idiot during the story “.
Strategist Mike McGlone is very optimistic about the future of bitcoin. However, he expects a drop in the price of BTC in the short term. He thinks this will also be the case with other digital assets, during a recession. That said, McGlone’s statements come amid a heavy crackdown on crypto businesses in the United States. US regulators continue to be very lenient with the latter. The situation was such that the exchange Bittrex was forced to say goodbye.
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