Economist Alasdair Macleod recently stirred up the Bitcoin community by suggesting that betting against the cryptocurrency is the best strategy during the current bear market.
According to Macleod, shorting Bitcoin offers the most lucrative opportunity amid ongoing market challenges.
This bold stance has sparked reactions from crypto enthusiasts, with some urging Macleod to put his own advice into action.
One commenter even suggested he take a substantial position with significant leverage, reflecting the strong divide of opinions within the community.
Macleod, a veteran in the financial world who began his career on the London Stock Exchange in 1970, has consistently expressed skepticism about Bitcoin.
In 2023, he dismissed it as merely a speculative outlet, emphasizing his preference for traditional assets like gold.
Meanwhile, Mike McGlone, a senior commodity strategist at Bloomberg, has also voiced a grim outlook, suggesting that Bitcoin’s value could decrease significantly — possibly by losing a zero.
These contrasting perspectives highlight the ongoing debate about Bitcoin’s future amid market uncertainty.
The crypto market has taken a hit, with a dramatic drop in Bitcoin’s value dragging down several major tokens.
Bitcoin has taken a sudden and significant hit, dropping from $83,000 to below $79,000 within a matter of hours.
CryptoQuant CEO Ki Young Ju recently expressed his view that the bullish phase for Bitcoin has come to an end, pointing to a transition into a bear market.
The latest analysis from crypto research firm Alphractal suggests that the connection between altcoin markets and Bitcoin has weakened once again.