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Bitcoin to Continue Outperforming Other Cryptos, McGlone Predicts

Author: Content Editor
In a recent interview, Mike McGlone, senior commodity strategist for Bloomberg Intelligence, predicted that Bitcoin will continue to outperform most other cryptocurrencies, particularly those included in the Bloomberg Galaxy Crypto Index. Despite the index reaching a new all-time peak, it has underperformed Bitcoin, which is up 138% this year. McGlone jokingly stated that predicting the top of the currency cycle is a good way to lose your hair, and he believes Bitcoin could still increase by 30% to 40%. He cautioned that significant corrections in the crypto market can be more severe than anticipated. McGlone also sees Bitcoin as being in its early days of becoming a global digital collateral and expects it to eventually trade more like gold and bonds.

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