One of Bloomberg’s leading commodity strategists Mike McGlone He recently shared his thoughts on crypto in Bloomberg Intelligence, the research arm of the publication.
McGlone said in a statement that the current state of the crypto market and Ethereum (ETH) He talked about his place in the industry. The analyst explained that Ethereum will revolutionize many areas and to Netflix likened it.
“What Ethereum did to Bitcoin is similar to what Netflix did to Blockbuster. Netflix was not a first in the market, but it tripled all of its competitors. Ethereum emerged after Bitcoin but revolutionized the fintech space. Smart contract technology will clearly affect our future.”
The smart contract feature that Ethereum brought to the crypto market made it possible to tokenize almost everything. For example, entrepreneurs produced stablecoins by tokenizing the US dollar.
“ETH Will Outperform BTC”
McGlone also talked about Ethereum’s performance. Analyst, ETH from bitcoin expects to gain more value:
“Ethereum has long yielded better returns than Bitcoin. I expect this situation to continue. $2000 and $1000 are psychological limits.”
The Bloomberg strategist thinks that the token has gotten rid of a lot of pressure thanks to the Ethereum Merge update. Crypto miners maintain the continuity of blockchain networks using energy. However Merge With the update, this situation has changed in ETH. The network is no longer verified by miners, but by shareholders who have locked at least 32 Ethereums in the system.
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