Bloomberg's senior commodity strategist, Mike McGlone, has warned that all indicators suggest an inevitable recession is on the horizon for the US economy. McGlone points to factors such as the Federal Reserve's tightening policies and declining natural gas and copper prices as evidence of the economy "tilting" towards a severe recession. He also predicts a challenging future for most investment products, including cryptocurrencies and equities. McGlone anticipates a substantial correction for altcoins and suggests that Bitcoin is likely to establish a new bear market bottom amid this period of market turbulence.
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