Robbie Mitchnick, Global Head of Digital Assets at BlackRock, suggested that a potential US recession could significantly drive Bitcoin’s next bull cycle, citing liquidity injections and fiscal responses as major catalysts.
During a conversation with Yahoo Finance on Wednesday, Mitchnick noted that although Bitcoin is often seen as “digital gold,” its recent performance hasn’t fully lived up to this image. Despite some optimism from policy changes in Washington, Bitcoin’s price remains subdued, currently around $83,550, after losing its late-2024 rally gains.
“The crypto market may have been overly optimistic about how quickly deregulation and other catalysts would occur,” Mitchnick stated.
