{"id":498651,"date":"2022-10-06T09:21:23","date_gmt":"2022-10-06T06:21:23","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/btc-to-outperform-most-major-assets-in-h2-2022-bloomberg-analyst\/"},"modified":"2022-10-06T09:21:23","modified_gmt":"2022-10-06T06:21:23","slug":"btc-to-outperform-most-major-assets-in-h2-2022-bloomberg-analyst","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/btc-to-outperform-most-major-assets-in-h2-2022-bloomberg-analyst\/","title":{"rendered":"# BTC to outperform &#8216;most major assets&#8217; in H2 2022 \u2014 Bloomberg analyst"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3873660d97a\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3873660d97a\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/btc-to-outperform-most-major-assets-in-h2-2022-bloomberg-analyst\/#%E2%80%9D_BTC_to_outperform_%E2%80%98most_major_assets_in_H2_2022_%E2%80%94_Bloomberg_analyst_%E2%80%9C\" >&#8221; BTC to outperform &#8216;most major assets&#8217; in H2 2022 \u2014 Bloomberg analyst &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_BTC_to_outperform_%E2%80%98most_major_assets_in_H2_2022_%E2%80%94_Bloomberg_analyst_%E2%80%9C\"><\/span>&#8221; BTC to outperform &#8216;most major assets&#8217; in H2 2022 \u2014 Bloomberg analyst &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-6ebd806f>Senior commodity strategist at Bloomberg Intelligence, Mike McGlone, stated October has historically been the best month for Bitcoin (BTC) since 2014, averaging gains of about 20% for the month, and that commodities <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>earing to peak could imply that Bitcoin has reached its bottom.<\/p>\n<p>In an Oct. 5 Bloomberg Crypto Outlook <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/mike-mcglone-a8442513_bloomberg-cryptos-outlook-oct-2022-edition-activity-6983382985882357760-o1VL\/\">report<\/a>, McGlone\u00a0says while the rise of interest rates globally is putting downwards pressure on most assets, Bitcoin is gaining the upper hand when compared to commodities and tech stocks like Tesla, with the report noting:<\/p>\n<blockquote><p>\u201cWhen the ebbing economic tide turns, we see the propensity resuming for Bitcoin, Ethereum, and the Bloomberg Galaxy Crypto Index to outperform most major assets.\u201d<\/p><\/blockquote>\n<p>McGlone notes that Bitcoin has its lowest ever volatility against the Bloomberg Commodity Index (BCOM), which tracks the price movements of global commodities such as gold and crude oil, and suggests that historically Bitcoin volatility is more likely to recover as compared to commodities when the crypto heads to new highs.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-10\/25a59e78-c42e-4614-825a-b670a1d8ddb0.png\"><figcaption style=\"text-align: center;\">Bitcoin vs BCOM and Bitcoin 260 day volatility vs BCOM 260 day volatility. Source: Bloomberg Crypto Outlook<\/figcaption><\/figure>\n<p>McGlone suggested the second half of 2022 could see Bitcoin (BTC) \u201cshift toward becoming a risk-off asset, like gold and US Treasury&#8217;s\u201d following low volatility throughout September and a potential peak in commodity prices.<\/p>\n<p>In the past Bitcoin has been highly correlated with tech stocks, with its volatility making it a risky asset which traders are likely to sell in an environment where investors are looking to reduce risk.<\/p>\n<p><strong>Related: <\/strong><strong><em>5 reasons why Bitcoin could be a better long-term investment than gold<\/em><\/strong><\/p>\n<p>Kaiko Research <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/blog.kaiko.com\/bitcoin-and-gold-correlation-hits-yearly-high-a8e77421e4cc\">data<\/a> released on Oct. 4 supports the notion that Bitcoin may be transitioning to acting more like \u201cdigital gold,\u201d with Bitcoin\u2019s correlation to gold hitting its highest level in more than a year at +0.4 following a strengthening of the U.S. dollar as interest rates rise.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-10\/c22c4934-d1a5-4177-bd8e-5a5184d0eb28.png\"><figcaption style=\"text-align: center;\">Bitcoin\u2019s correlation with gold over the last 12 months. Source: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/blog.kaiko.com\/bitcoin-and-gold-correlation-hits-yearly-high-a8e77421e4cc\">Kaiko<\/a><\/figcaption><\/figure>\n<p>A correlation of +1.0 means that the movement between two different assets is synonymous, for example a 10% increase in gold would be matched by a 10% increase in Bitcoin should the two assets have a correlation of +1.0.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/btc-to-outperform-most-major-assets-in-h2-2022-bloomberg-analyst\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; BTC to outperform &#8216;most major assets&#8217; in H2 2022 \u2014 Bloomberg analyst &#8220; Senior commodity strategist at Bloomberg Intelligence, Mike McGlone, stated October has historically been the best month for Bitcoin (BTC) since 2014, averaging gains of about 20% for the month, and that commodities appearing to peak could imply that Bitcoin has reached&#8230;<\/p>\n","protected":false},"author":1,"featured_media":498652,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTAvNzNhYWU1NjAtNzUwZS00YTc3LWJkMzMtMzQ2MjY2ODE1OThiLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,81951,75147,74355,71835],"class_list":["post-498651","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-analysis","tag-bloomberg","tag-adoption","tag-gold"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/498651","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=498651"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/498651\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/498652"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=498651"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=498651"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=498651"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}