According to Mike McGlone, this is the great advantage of cryptocurrencies over stocks

Bloomberg Intelligence’s senior commodities strategist Mike McGlone says cryptocurrencies have a huge advantage over the stock market.

The strategist compares the S&P 500 with the MVIS CryptoCompare Digital Assets Index, which shows the performance of the 10 largest and most liquid digital assets. According to McGlone, the ability of cryptocurrencies to remove excess leverage from the system through sudden drops and rallies is an advantage over the stock market.

“With the stock market shaking, it is likely that the US Federal Reserve will extend monetary easing in the short term. If past patterns hold, this will further strengthen Bitcoin. Eliminating excessive leverage in 1H (1 hour) could be an advantage of Crypto over the S&P 500. ”

The source: Mike McGlone / Twitter

Turning to Bitcoin, McGlone said BTC continues to build a solid base as crude oil and commodity prices suggest that an inflation peak is in sight.

“Crude oil and commodities are good indicators that inflation is nearing its peak. Bitcoin is becoming a safe haven and part of a technological revolution. ”

The source: Mike McGlone / Twitter

McGlone also highlighted three key components that are driving the growth of the crypto market, including Bitcoin, Ethereum, and a large number of stablecoins he calls “crypto dollars”.

“Three crypto musketeers are driving market capitalization to over $ 3 trillion – which is a better way of trading, an improved ecosystem, and an asset class to stay. Among them, the crypto dollar is the most important part of the digital currency revolution. ”

The source: Mike McGlone / Twitter

You can see the BTC price Here.

Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews

Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.

SN_Nour

According to Beincrypto

Follow the Youtube Channel | Subscribe to telegram channel | Follow Facebook page