Bitcoin

Bloomberg’s Mike McGlone Believes That Bitcoin Can Beat Commodities For The Next 10 Years

Mike McGlone, the senior commodities analyst at Bloomberg, believes that Bitcoin will outperform commodities in the next ten years. Furthermore, he predicted that cryptocurrency prices will skyrocket this year.

Mike McGlone stated that Bitcoin has been winning against commodities thus far – this decade has been extraordinarily excellent for Bitcoin and disastrous for commodities. Furthermore, he claimed that 2022 may show to be the strongest higher-price cure ever, boosting crypto.

The snapshot depicts a section of a recent Bloomberg report. According to the graph, Bitcoin has outperformed the BCOM (Bloomberg Commodity Index) thus far. Nonetheless, McGlone adds, Bitcoin is currently plunging to new lows and trading at a discount, as he stated in one of his latest tweets.

According to the analysis, if history is any indicator, Bitcoin is expected to recover and outperform commodities, reaching new highs soon.

On September 21, Bitcoin reached its lowest point. Mike McGlone did, however, think that the extreme of this crypto price drop indicates a possible return of the elongated upward trajectory.

At the time of writing, BTC is trading at $19,110.

BTC daily chart. Source: CoinCu

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.

Recent Posts

The New Lead of Presidential Crypto Council Appointed by Trump Is Bo Hines

President-elect Donald Trump named Bo Hines as the executive director of the presidential crypto council.

2 minutes ago

Best New Meme Coins with 1000X Potential: BTFD Coin’s Hot BIG50 Discount As Baby Doge Coin, Dogs Takes Gaming to the Next Level

Explore the best new meme coins with 1000X potential. Learn how BTFD Coin leads with…

1 hour ago

BlockDAG Surges Past $170M as BDAG250 Bonus End Countdown Begins – Aave Targets $400 & Solana Shines with Scalability

BlockDAG crosses $170.5M in presale success with BDAG250 bonus and Whitepaper V3 launch! Solana grows…

3 hours ago

Qubetics Presale Price Surge Approaches: The Best Coins to Invest in Right Now While Toncoin, and XRP Gain Traction

Discover why Qubetics, Toncoin, and XRP are the best coins to invest in right now.…

3 hours ago

Book of Meme Old News? This Best Meme Coin to Invest in 2024 Is Multiplying Gains Like a Champ

Over the years, meme coins have evolved from inside jokes into serious investment opportunities.

4 hours ago

Time’s Ticking on BlockDAG’s 5-Tier Bonus- Few Days Left to Grab It While Cardano Whales Take Action, Aave Rallies Strong

Discover BlockDAG's five-tier bonus program's closing phases that enhance buyer holdings. Gain insights on the…

5 hours ago

This website uses cookies.