The crypto market could be facing its “first real recession,” and milestones similar to the invention of Bitcoin (BTC) cannot be ruled out, a well-known Bloomberg strategist has predicted.
Writing on Twitter this weekend, Bloomberg’s Senior Market Strategist Mike McGlone reminded his followers that the last major economic contraction in the US, the Global Financial Crisis of 2007-2008, led directly to the creation of Bitcoin.
If we now have another “real recession,” a comparable outcome or technological breakthrough could be seen, he added.
Bitcoin’s white paper was released in October of 2008, less than one year into the crisis and just a month after the collapse of major US investment bank Lehman Brothers.
