Can Bitcoin Become “Best Asset On Earth”? Expert Bets On It
— Bets, Asset, Crypto, Global, Bitcoin, Price, Earth, Losses, Good, Mcglone, Projects, Best, Process, Market, Expert — 1 min read
Bitcoin and other risk-on assets are responding to the current macro-economic outlook, Bloomberg Intelligence's Mike McGlone said. Bitcoin has been moving in tandem with the Nasdaq 100, and recently hit their 100-week moving average when BTC’s price dropped to $30,000. Bitcoin and Gold will be two of the best assets to hold in the coming years, as Bitcoin becomes “global collateral” and begins a new ascent towards $100,000 by 2024. The current downtrend might be a good thing for some of the strongest projects in the crypto industry, as these projects with robust fundamentals could be able to continue getting market shares from traditional markets. As the crypto market was only 0.5% of the market cap for global equities, Source