ביטקאָין

ביטקאָין איז אַ 'ווילד קאָרט' שטעלן צו אַוטפּערפאָרם - בלומבערג אַנאַליסט

09/08/2022
ביטקאָין עטהערעום נייַעס

Bloomberg analyst Mike McGlone has labeled Bitcoin (בטק) a “wild card” which is “ripe” to outperform once traditional stocks finally bottom out. 

In a Wednesday post on Linkedin and Twitter, McGlone explained that while the United States Federal Reserve tightening will likely determine the direction of the stock market, ביטקאָין remains a “wildcard” that could buck the trend, stating:

"ביטקאָין איז אַ ווילד קאָרט וואָס איז מער צייַטיק צו אַוטפּערפאָרם ווען סטאַקס דנאָ, אָבער יבערגאַנג צו זיין מער ווי גאָלד און קייטן."

The commodities strategist shared more details in a Wednesday report, which אנגעוויזן that Bitcoin was primed to rebound strongly from the bear market despite a “strong headwind” toward high-risk assets:

“It’s typically a matter of time for the fed funds gauge to flip toward cuts, and when it does, Bitcoin is poised to be a primary beneficiary.”

The report notes that while Bitcoin would follow a similar trend to treasury bonds and gold, Ether (עטה) "קען האָבן אַ העכער קאָראַליישאַן מיט סטאַקס."

The Federal Reserve’s increased quantitative tightening comes amid several major interest rate hikes throughout 2022, with the most recent spike accounting for a 75 basis points increase on July 27.

While it is not known exactly when the Fed’s quantitative tightening will end, some economists predicted the endpoint will begin “at some point in 2023” according to a Bloomberg article ארויס אין אויגוסט. 

Quantitative tightening is a contractionary monetary policy tool that is used by central banks to reduce the level of money supply and liquidity in an economy, which can reduce spending across markets such as stocks. 

פֿאַרבונדענע: ביטקאָין מסתּמא צו יבערגאַנג צו אַ ריזיקירן-אַוועק אַסעט אין H2 2022, זאגט בלומבערג אַנאַליסט

Despite Bloomberg’s bullish take, however, other experts believe that Bitcoin and equity markets have actually become more correlated than before.

Cointelegraph contributor Michaël van de Poppe recently said the correlation between the S&P 500 index and BTC was approaching 100%, while a number of IMF economists claimed to have seen a 10-fold increase in correlation between crypto and equity markets in some regions of the world.