Bitcoin (BTV) and to the crypto market frequently mentioned with his predictions about Mike McGlone, senior strategist at Bloomberg Intelligencemade new statements.
In a recent interview with crypto phenom Scott Melker, Mike McGlone said: Bitcoin and Ethereum (ETH) Compared to the early days of Netflix.
Noting that promising new technologies such as Netflix have historically been successful, the famous analyst said, BTC and ETHHe said that ‘ is one of the promising technologies.
Accordingly, McGlone, who believes that Bitcoin and Ethereum will also achieve success over time, like Netflix, claimed that BTC and ETH will survive and outperform commodities despite the turbulent market conditions.
“First of all, I would like to point out that people love to look at cryptocurrencies.
Commodities have a problem with the elasticity of supply and demand. Commodities are stupid. But cryptocurrencies are just the opposite.
I look back 5, 10 years from now as if I remember when Netflix first came out, and I see Bitcoin and Ethereum achieving higher ground and success.”
In the current bear market of crypto markets in general S&P 500 McGlone stated that it is in close correlation with bitcoin and EthereumHe said that the value of .
Linking the rise of Bitcoin and Ethereum to the rise of stock markets, McGlone said:
“I expect Bitcoin and Ethereum to come to the fore, but I think they will still be under pressure if the stock markets go down.
The key thing from my point of view and one of the best performing assets that I still stick to is Ethereum.
Ethereum is up 10% this year. When you look at it, ETH may lose some of this gain, but the important point for me is that ETH still holds the $ 1,000 support.”
*Not investment advice.
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