Bloomberg commodity strategist Mike McGlone thinks crypto will return to outperforming traditional assets next year.
U novom analiza, McGlone notes that the value of the crypto market was slashed by $1.3 trillion in 2022, as of early December, a “roughly equivalent” figure to the combined market cap decrease of Amazon and Google.
The strategist says this signifies that crypto is still in its early stages.
“Najagresivnije pooštravanje Fed-a u posljednjih 40 godina dobar je razlog za makroekonomsku plimu, ali 2023. može biti u vezi s tim koja imovina izlazi naprijed dok se centralne banke okreću. Ako ne preokrenu na ublažavanje, svijet bi mogao pasti u dublju recesiju, s reperkusijama po svu rizična sredstva. Naš osnovni slučaj je za produženi deflacijski period, a kripto tržište, mjereno Bloomberg Galaxy Crypto Indexom, izlazi naprijed.”
McGlone says the dominance of stablecoins among the five biggest digital assets by volume actually demonstrates the value of Ethereum (ETH). He notes Ethereum’s tech makes it possible to trade digital dollars quickly and inexpensively.
“Our bias is that there’s little in the long term to stop this advancing technology from doing similar to what the futures and exchange-traded-funds markets did. Non-fungible tokens and decentralized exchanges are additional advances made possible by Ethereum.”
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Source: https://dailyhodl.com/2022/12/08/bloomberg-analyst-says-ethereum-eth-and-rest-of-crypto-markets-to-rise-again-in-2023/