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Home Cryptocurrency Bitcoin

Of all the crypto-assets from the U.S. Federal Reserve policy will benefit only bitcoin and ether

Admin by Admin
15.05.2022
in Bitcoin, Cryptocurrency
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crypto-daily.news

15 May 2022 10:44 a.m., UTC.

Reading time: ~2 m


A senior analyst at Bloomberg Intelligence believes that cryptocurrency declines amid a falling stock market are normal, and that BTC and ETH will benefit from a tightening of U.S. monetary policy.

Mike McGlone said in a podcast on Yahoo Finance that Etherium and Bitcoin will make the biggest gains given the recent price drop affecting all asset classes. The analyst noted that a U.S. Federal Reserve (Fed) interest rate hike would, in the long run, hurt stock markets more than proven cryptocurrencies such as bitcoin and ether:

“The key thing to remember is that, the stock market will continue to fall because the Fed needs it to fall and lower inflation, Bitcoin and Etherium will fall but then rise and outperform all other assets.”

A Bloomberg exchange commodities expert believes cryptocurrencies represent the next revolutionary stage of economic development, on par with Amazon and other market innovators, winners of the 2000s and 2010s:

“The volatility of these nascent crypto-assets, primarily bitcoins, continues to decline in parallel with the stock market. This is exactly what happened to Amazon when the online marketplace first appeared. The volatility of its securities in 2009 was the same as that of Bitcoin right now.”

McGlone warned that not everyone will have time to hop on the “full-speed train,” referring to the crypto industry:

“Investors are looking forward to the future. Do you really want to miss this revolution? There will be few stock market offerings ahead and plenty on bitcoin and ether.”

Expert Bloomberg Intelligence notes that while BTC has fallen to $30,000, it’s not the only asset class that has declined:

“Bitcoin is going down with other risky assets, following the tide that has set in the markets. What happened to the S&P 500 this week? For a while, the stock index dipped below 4,000. Bitcoin, which has risen the most in the last five to ten years, will return when the Fed “pours the punch bowl.”

Brock Pierce, head of the Bitcoin Foundation, says he is seeing a similar situation in the cryptocurrency market to the “dot-com crisis” of the turn of the noughties and is therefore diversifying his portfolio into EOS and NFT.


#cryptoassets #Federal #Reserve #policy #benefit #bitcoin #ether

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