Bitcoin Supercycle May Be Happening, Says Commodity Strategist Mike McGlone – Markets and Prices Bitcoin News

Bloomberg Intelligence senior commodity strategist Mike McGlone has explained that a supercycle may be happening in bitcoin, noting that the cryptocurrency is beating gold by almost 10 times so far this year. The strategist added

Looking for a super cycle? Bitcoin outperforms commodities with declining risk — Bitcoin beating gold, the top-performing old-guard commodity in 2023 to March 20, by almost 10x may be indicative of a super cycle happening in the crypto.The strategist explained that a benefit bitcoin has over most commodities is its “nascent stage of low and rising adoption vs. diminishing supply.”

If past trends hold, the crypto’s volatility is more likely to recover vs. commodities when bitcoin heads toward new highs.to continue to outperform gold and the stock market. “Facing the Federal Reserve, inflation, and war, 2022 may be primed for risk-asset reversion and mark another milestone in bitcoin’s maturation,” he tweeted Friday. “It’s unlikely for bitcoin to stop outperforming gold, stock market amid bumps in the road as the Fed attempts another rate-hike cycle,” McGlone opined.

The Bitcoin market is experiencing a huge difference for the past few days, this is the best time to take a whole steps on investing in Bitcoin, Ethereum or even Solana with a little you can afford ,

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