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[source](https://thegivingblock.com/resources/47-of-wealthy-young-u-s-investors-own-crypto-study/)


Recently the bearish sentiment of the bitcoin market and other alternative cryptocurrencies market prices which the Bloomberg chief says that he projects that we might likely witness a significant correction coming to the alternative asset market. The senior macro analyst of Bloomberg Mike McGlone says that his base case is [the S&P 500 index] is going to 3,000, Bitcoin’s going to go down, I don’t know how far. It might make a new low.

Cryptos will go down really hard. We’re going to purge some of these 24,000 cryptos. Get rid of some. They’re just silly. But Bitcoin and Ethereum will come out ahead.
So my base case is that’s going to happen, S&P 500 goes to 3,000. Yields drop a lot.

As the macro analyst continued with he’s base case scenario which said that the coming months would be enduring for alternative assets in relating the current Bitcoin situation with the stock market if the market is [unable](https://dailyhodl.com/2023/05/20/bloomberg-analyst-mike-mcglone-warns-bitcoin-and-other-crypto-assets-could-crash-if-this-happens/) to regress in prices bitcoin might not be able to outperform other assets in same class. If we don’t go down the stock market, I don’t fully expect Bitcoin to exceed. So there’s kind of a win-win.

But that would be kind of strange, I think. And historically it will prove that ‘Oh, so the rules and laws of liquidity, and pumps and dumps, and cycles and markets’ may no longer apply. I’d be kind of concerned about that. 

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Posted Using [LeoFinance Alpha](https://leofinance.io/@hironakamura/bitcoin-is-projected-to-outperform-other-assets-in-same-class-if-a-condition-is-met)