Bloomberg Analyst Shares His Take on Bitcoin’s (BTC) Price Performance During COVID-19 Crisis

Published by Cyber Flows on

Bloomberg Intelligence researcher Mike McGlone has opined that Bitcoin is maturing as a store of value after a plunge in the asset’s level volatility.

After fully recovering from its 48 percent collapse on March 12, McGlone expects Bitcoin to continue its uptrend together with gold.

Bitcoin (finally) stabilizes

London-based research firm Skew has recently noted that Bitcoin’s implied volatility almost plunged back to the pre-crash level.

Moreover, Bitcoin’s volatility recently reached its lowest point ever against the S&P 500, the flagship U.S. stock market index that has a market capitalization of nearly $28.1 trln.

As reported by U.Today, Bitcoin’s correlation with U.S. equities reached its highest level against the U.S. stock market in late March because of the coronavirus liquidity crisis.


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