Analyst Bloomberg Mike McLounun: "By the end of the year, Bitcoin will overtake the rest of the main assets" – Bits Media

Bloomberg Intelligence stocks strategist considers, that in the near future the Bitcoin course will grow and the end of the year will surpass most assets.

According to the publication of Mike McGlound (Mike McGlone) In Linkedin, The only large class of assets, which has grown in the first half of the year 2022 of the year, Having reached a stable peak - raw materials. And this is important for bitcoin. With economic downturn at Bitcoin, The broadcast and cryptocurrency index of Bloomberg Galaxy have a tendency to superiority over most other assets, The analyst writes. Increasing interest rates by central banks enhances this tendency, since people seek to invest in assets with a minimum risk level to preserve savings, such as gold and treasury bonds of the United States.

According to McGlound, Increasing interest rates, along with a sharp reduction in the global money supply, is pressure on raw materials and shares of technological companies. Therefore, the flagship cryptocurrency may well be considered a risk-free asset in the second half of 2022. The analyst noted, what with 2014 years October was the best month for bitcoin, And now BTC demonstrates the lowest volatility in comparison with the Bloomberg product index.

According to June Coinbase, Cryptocurrencies are increasingly correlating with the stock market, And this connection intensified after the pandemic of coronavirus. However, Coinbase analyst Cesare Thracassia (Cesare Fracassi) considers, that bitcoin still cannot be compared with gold, since the BTC is much more volatile, than precious metal.

Founder Galaxy Digital Michael Novograts (Michael Novogratz) Partly agree with McGlound, that bitcoin is a good remedy for saving savings. But his mood about the growth of the bitcoin course is not very optimistic. Novogradz believes, that by the end of the year, BTC will not be able to jump $ 30,000.