After the impending crisis, bitcoin will be one of the best assets to save along with gold and bonds. Mike McGlone, senior commodity strategist at Bloomberg Intelligence, said this in an interview with Kitko News.

The expert expects a “major pullback” in risk assets, which will resemble the consequences of the 2008 or 1987 crisis.

“It should have happened anyway. All assets are at risk, from apartments in Miami and Toronto to the stock market. Everything is just beginning on the backdrop of the biggest inflation in the last 40 years.”said the expert.

The strategist expects the first cryptocurrency to emerge from the impending crisis in a new status.

“Once we get through this period, bitcoin will be one of the best assets on the planet, just like gold and US bonds. We are back in deflation and the best way to achieve that is to raise prices sharply and then reset.”explained.

McGlone emphasized that Ethereum should also be considered together with the first cryptocurrency, as new segments are formed on the basis of the crypto money market.

“Ethereum is revolutionizing the world of fintech. The question for me is what stops tokenization. […] It’s not going anywhere.”explained.

Recall that Arthur Hayes, co-founder of the BitMEX cryptocurrency derivatives exchange, said that Bitcoin and Ethereum prices had already crossed the local bottom in May.

Previously, JPMorgan analysts had estimated the fair price of bitcoin at $38,000.