According to a commodities expert, Bitcoin will be one of the “greatest assets on Earth” after inflation slows

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Since January, Bitcoin (BTC) has lost over 35 percent of its value, making it one of the worst-performing digital assets. People are now questioning how long the crypto market has been in winter and whether or not spring is on the way.

Mike McGlone, a senior commodities analyst at Bloomberg Intelligence, told Kitco News that cryptocurrencies would outperform all other asset classes until the current weak market in risk assets ends and values recover.

A few weeks ago, when asked about what would be required to break investors out of crypto winter and to ignite a rally, McGlone said that Bitcoin was on pace for $100,000 by 2025. According to the commodities analyst:

“I believe that the big reversal is just beginning,” he says. As with the aftermath of 1929, I believe 2008 will be like the aftermath of 1987; it’s long overdue. “We’re just at the beginning of the largest inflation in 40 years in most people’s lifetimes.”

McGlone went on to say: In my opinion, Bitcoin will soon be recognised as one of the most valuable assets on the globe after we get over this first phase of uncertainty. Since a starting point, I believe gold, long-term U.S. government bonds, and Bitcoin will be the greatest investments moving forward, as I believe we are returning to a period of deflation.

Indeed, Bitcoin’s failure to adapt to inflation and other macroeconomic variables is undermining the long-term argument for the cryptocurrency.

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