cryptomode casino Bitcoin ($BTC) and Ethereum ($ETH) Will Outperform Equities Markets, Says Bloomberg Strategist

Bitcoin ($BTC) and Ethereum ($ETH) Will Outperform Equities Markets, Says Bloomberg Strategist

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– Bloomberg commodity strategist Mike McGlone has suggested that the price of leading cryptocurrencies Bitcoin (BTC) and Ethereum ($ETH) will outperform equities markets in the future as the volatility of the flagship cryptocurrency keeps dropping.

– During an interview with Yahoo Finance, McGlone first noted that he believes Bitcoin will be seeing more responsive buying below the market as the asset that went up the most in the last 5-10 years is going to come back as the Fed [Federal Reserve] hammers down.

– Addressing Tether ($USDT) briefly losing its peg after the collapse of Terras $LUNA and $UST stablecoin, McGlone noted that anytime you see knockbacks on Tether ut0s usually a short-term blip in the market and a long-term enduring bottom for BTC.

– Per McGlone, the recent crypto market downturn is purging some of those speculative assets including TerraUSD (UST). Bitcoin, on the other hand, is well on its way to becoming global digital collateral, McGlone said.

– Now, he said, were moving to whats really building infrastructure which to him is Bitcoin and Ethereum, which have receded to good support levels near $30,000 and $2,000 respectively.

– The volatility of these cryptoassets, he said, has continued to decline versus the stock market.

 

 

ethereum 6293700 1920 Bitcoin ($BTC) and Ethereum ($ETH) Will Outperform Equities Markets, Says Bloomberg Strategist
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