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The attractiveness of Bitcoin grows as the bond yields declining
Apr 22, 2020 Forex News
Bloomberg analyst Michael McGlone believes that the attractiveness of Bitcoin will grow as bond yields approach zero.
The decline of stock markets is one of the main factors improving the fundamental performance of BTC.
Three years after the famous December rally, the first cryptocurrency weakened significantly. However, the fall of traditional markets creates the conditions for the return of capital to the cryptosphere.
A repeat of the race three years ago this year, of course, is unlikely, although the option of seriously strengthening the coin is not ruled out.
McGlone emphasized:
The average price of Bitcoin in 2020 until April 17 was about $8070 - this is a very high mark compared to the stock market, which is marking time.
Another supporter of BTC CEO Galaxy Digital Mike Novogratz recently expressed a similar point of view. He compared the situation in the American stock market and the cryptosphere and concluded that the last one is in much better condition, and this is good for Bitcoin.
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