Despite the tough conditions of the bear market in 2022 and the sharp declines Bitcoin (BTC) and to cryptocurrencies Mike McGlone, chief commodity strategist at Bloomberg Intelligence, has never lost hope bitcoin and Ethereum (ETH) compared.
Stating that Ethereum has started to outperform BTC, McGlone said that despite the difficult market conditions that apply to all risky assets, ETH’of Bitcoin (ETH/BTC) He said its counter performance remains in a strong uptrend.
“Bitcoin streaks are passing. Ethereum could be the best candidate to continue to outperform BTC, the first-born cryptocurrency.
Ethereum’s advances against Bitcoin have not been shaken by 2022 deflation in most risk assets and fundamentals may be gaining.
Bitcoin crosses series; Ethereum may be top candidate to continue outperforming the first born crypto –#Ethereum‘s advances vs. #Bitcoin have been unshaken by 2022 deflation in most risk assets and may be gaining underpinnings. pic.twitter.com/mLRMO4vpQr
— Mike McGlone (@mikemcglone11) December 20, 2022
In his recent analysis of Bitcoin, he argued that once the Fed reverses its hawkish stance, BTC will perform better. “active days” He claimed to live.
famous analyst, “Bitcoin Compares to Better Performance Trend: The world-referenced digital asset took a big hit in 2022, but it looks like it will outperform in the future. When the FED starts to loosen again in monetary policy, of course…” said.
It is down about 70-75% from its $69,000 ATH in November 2021. bitcoin at $16,865 at the time of writing, Ethereum It continues to trade at $1,215.
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