Bitcoin Outperforming S&P 500 Year-to-Date Is an ‘Accomplishment,’ Says Bloomberg Analyst – But There’s a Catch
Bloomberg Commodity Strategist Mike McGlone said Bitcoin (BTC) that more than S&P 500-to-date is a success for the King of Crypto.
In a new thread, McGlone Says His 68,800 followers on the Social Media X platform that the leading crypto asset through the Market Cap is the surgery compared to the stocks, which themselves will find additional drawdowns if the market enters a backwards.
“Recovery to unchanged from 2025 to April 23 is a accomplishment for Bitcoin compared to the S&P 500 with almost 10% denial. But what some see as the fastest horse in the race can deal with deflection.
According to McGlone, the Crypto Asset Bubble can also face The same violent results visible during the US stock market crash in 1929 and 2000 and the Japanese stock market crash in 1989. The analyst said digital possession could face burdens of unlimited supply, high volatility, and speculation -in nature.
“Cryptos compared to 1929 US, 1989 Japan, the Internet Bubble Cryptocurrencies in 2025 could be similar to the US stock market in 1929, Japan in 1989 and the Internet bubble up to 2000 climax, with deflationary implications that favored gold and US treasury bonds.
That the extremely hyped crypto space has been almost flat compared to beta for about seven years can suggest a burden of unlimited supply, volatility and speculation with a nascent technology. “
However, McGlone graduated of Noting that the flagship digital assets can exceed gold if the stocks continue to fall.
“Bitcoin and Gold are both up to 42% to April 23 on a year's basis with S&P 500 to 10%. What is the next 12-month, can crypto defeat the stone if stocks fall?”
BTC traded $ 93,228 at the time of writing, an increase of 1% on the last day.
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