Behind the crypto market crash, there are all kinds of optimistic predictions about the price of the major cryptocurrencies. Below we bring you the latest on Bitcoin and Ethereum.
Bitcoin and Ethereum Price Predictions
The crypto market is struggling to recover these days after the latest massive crash.
Bloomberg Intelligence analyst Mike McGlone said that BTC and ETH will generate the most gains after the recent price decline that affected all asset classes.
In a new interview with Yahoo Finance, McGlone notes that Federal Reserve rate hikes are more damaging to the US stock market in the long run. He compared them to proven digital assets like Bitcoin (BTC) Y Ethereum (ETH).
“The key is to remember that the stock market will continue to decline, this is because the Fed urgently needs to bring down inflation. Bitcoin and Ethereum will go down, but they will come out on top”.
He went on and said the following:
“Overall, the volatility of these nascent crypto assets, most notably Bitcoin, has continued to decline against the stock market. That’s what happened with Amazon when it first came out. Its volatility in 2009 was the same as Bitcoin’s right now.”
McGlone also made sure to highlight that digital assets represent the next revolution alongside Amazon and other innovators and market winners of the 2000s and 2010s.
“Investors are looking forward to the future. Do you really want to miss out on this revolution?
He went on and said the following as well:
“That’s what I see happening. A bit of stock market sell offers and deals ahead on things like Bitcoin and Ethereum.”
At the time of writing, BTC and ETH are trading in the green. BTC is priced just above $30k and ETH is trading for $2,073.
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