Macro Strategist Warns: 2022 Is Not A Bull Year For Bitcoin Macro strategist Lyn Alden made several warnings on the subject, stating that 2022 is not in a bullish trend for the leading cryptocurrency Bitcoin (BTC) and is still susceptible to a capitulation event for BTC. Classified as a "risk asset" by many capital pools In an interview with Stansberry Research, macro strategist Lyn Alden states that he looks at the Purchasing Managers Index (PMI) to determine the overall trend of Bitcoin (BTC). So what is PMI? PMI is an economic indicator that aims to show the health of the manufacturing and service sectors. Strategist Lyn Alden, stating that he is not very optimistic for 2022, also adds the following words for investors; “Bitcoin's biggest bull is historically moving. We have seen PMI rising in 2011, 2013, 2017 and 2020. So overall the current period type cannot be called historically great for Bitcoin's price action. Currently, most capitals are due to Bitcoin's volatility. It's classified as a risk asset by the pool, so I'm not particularly optimistic for the 2022 calendar year." The United States' PMI currently stands at 58, marking a 9.38 percent drop from 64 in March last year. Macro strategist Lyn Alden points out that a falling PMI in the midst of a tightening currency environment can act as a catalyst for a capitulation event. Alden's words on the subject are as follows; “If you experience some kind of market turmoil, you may have a capitulation similar to March 2020 or the fourth quarter of 2018, which the Fed is still trying to tighten into a falling PMI environment. If you get such a capitulation, I would consider it a buying opportunity. I don't know if we can take it. We can definitely see a break below $30,000 in this kind of capitulation environment.” Despite its bearish outlook for 2022, Alden also states that Bitcoin is in an upward trend in the long run; “When I look at multiple years, say three to five years time frame, I still see structural bullishness in Bitcoin when I look at the ecosystem.” As we previously reported as cryptoarena.com, the leading cryptocurrency Bitcoin (BTC) has increased by 6.6 percent in the last 24 hours and is instantly traded at $ 44,470.46.