Rocket ICO Giving you a better way to make your decisions and enjoy the process of ICO backing

  • Lydian ICO
  • Markets
Latest News
  • DappRadar’s RADAR cross-chain staking is live   |   01 Jul 2022

  • Here’s why Terra Luna Classic (LUNC) and USTC are suddenly rising   |   01 Jul 2022

  • Where to buy LUNC coin   |   01 Jul 2022

  • Report: Short Bitcoin ETF attracting a lot of attention   |   30 Jun 2022

  • Where to buy USTC coin   |   30 Jun 2022

  • Major advocate of Bitcoin Cash accused of default: BCH price sinks 7%   |   30 Jun 2022

 
Home» Markets»Bitcoin’s maturity to derail commodities

Bitcoin’s maturity to derail commodities

rocketman 14 Jan 2022 Markets Comments Off on Bitcoin’s maturity to derail commodities 83 Views

  • Bloomberg analyst believes Bitcoin’s rising value is bad for commodities, citing copper as an example.

  • Morgan Stanley and JPMorgan gave bearish views on gold and copper in December.

  • Other strategists have given bullish forecasts though, including billionaire Paul Tudor Jones who noted this week that commodities were “greatly undervalued.”

Mike McGlone, a senior commodity strategist at Bloomberg Intelligence, has suggested that commodities are unlikely to witness a price supercycle if Bitcoin’s growth and maturity is anything to go by.

The strategist has previously predicted that Bitcoin’s price could rally to $100,000 this year, and he’s not convinced of a similar run for commodities.

McGlone says that Bitcoin’s market resilience and prospects for metals like copper indicate that there is low potential for a huge uptick in commodities. McGlone made this comment. sharedFollow us on Twitter at @Twitter.

He noted that Bitcoin has the “edge” over copper, referring to the comparison between digital gold versus “the Old-Guard Doctor.”

Looking at a chart comparing Bitcoin’s rising price and declining risk versus copper futures, and the 260-day volatility for both assets, McGlone noted:

Chart showing Bitcoin price comparison with copper. Source: Mike McGlone Twitter

  “Copper may be a good example of the low potential for a commodity supercycle, notably vs. an advancing Bitcoin. We see Bitcoins’ upper hand gaining endurance, and maturity, vs. copper.”

Other analysts’ views on gold, copper, and other commodities

Analysts at JP Morgan & Morgan Stanley were available for December forecastFor 2022, a bearish outlook on gold, silver and copper

JP Morgan predicted that the US real yields would edge higher in 2022. Gold prices will likely fall to around $1520 per ounce. Morgan Stanley, on the other hand, predicted copper would see more volatility, but likely stay “vulnerable to macro moves.”

Early this year, Fat Prophets commodity analyst David Lennox told “Street Signs Asia” that he expectedGold to rise to $2,100 an ounce by the end of this year He spoke of rising US inflation and weakness for the US Dollar as potential catalysts to a surge in gold prices.

According to him, gold’s safe-haven status remains its biggest pull factor in the face of turbulence across markets and on the geopolitical scene.

Commodities undervalued

On Monday, legendary trader and hedge fund billionaire Paul Tudor Jones noted that contrary to some observations, commodities were “greatly undervalued” and that they would outperform financial markets long term.

CNBC interview with Just Capital cofounder. said assets that performed well during the pandemic will be in for a “tough sledding”. He also said:

“Things that performed the best since March 2020 are probably going to perform the worst as we go through this tightening cycle.”

The price of gold fell to $1,815 an troy ounce on Thursday. This was down 0.6% after it had reached highs of $1.827 in the previous session. Copper and silver were also in the red, with 0.8% drawdowns and 1.2% respectively.

Bitcoin declined 1.2% to $43,150 levels following a decline from intraday highs $43,800.

Bitcoins commodities derail maturity 2022-01-14
Tags Bitcoins commodities derail maturity
Facebook Twitter Stumble linkedin Pinterest More

Authors

Posted by : rocketman
Previous Article :

Solana to become like Visa, but for crypto: Bank of America

Next Article :

Bitcoin takes step back, banks kick off earnings season

Related Articles

DappRadar’s RADAR cross-chain staking is live

DappRadar’s RADAR cross-chain staking is live

rocketman 01 Jul 2022
Here’s why Terra Luna Classic (LUNC) and USTC are suddenly rising

Here’s why Terra Luna Classic (LUNC) and USTC are suddenly rising

rocketman 01 Jul 2022
Where to buy LUNC coin

Where to buy LUNC coin

rocketman 01 Jul 2022

ABOUT ME

lourari bra

lourari bra

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Vivamus pulvinar eros id diam gravida, id pharetra ligula cursus. Sed dapibus lectus augue, non volutpat lorem porttitor vel.

Popular Posts

DappRadar’s RADAR cross-chain staking is live
Markets

DappRadar’s RADAR cross-chain staking is live

rocketman 01 Jul 2022
Bitcoin Profit Review 2021: Is It a Scam Or Legit?
Reviews

Bitcoin Profit Review 2021: Is It a Scam Or Legit?

rocketman 22 Jul 2021
Yuan Pay Group review 2021 – Is it a Scam or Legit?
Reviews

Yuan Pay Group review 2021 – Is it a Scam or Legit?

rocketman 26 Jul 2021
Immediate Bitcoin Review: Does it work?
Reviews

Immediate Bitcoin Review: Does it work?

rocketman 27 Jul 2021
Bitcoin Era Review: Is this a scam?
Reviews

Bitcoin Era Review: Is this a scam?

rocketman 27 Jul 2021

Advertisement

Recent Posts

  • DappRadar’s RADAR cross-chain staking is live

    DappRadar’s RADAR cross-chain staking is live

    rocketman 01 Jul 2022
  • Here’s why Terra Luna Classic (LUNC) and USTC are suddenly rising

    Here’s why Terra Luna Classic (LUNC) and USTC are suddenly rising

    rocketman 01 Jul 2022
  • Where to buy LUNC coin

    Where to buy LUNC coin

    rocketman 01 Jul 2022
  • Report: Short Bitcoin ETF attracting a lot of attention

    Report: Short Bitcoin ETF attracting a lot of attention

    rocketman 30 Jun 2022
  • Where to buy USTC coin

    Where to buy USTC coin

    rocketman 30 Jun 2022

htmagazine
About HTmagazine was created in 2015 , and covers the intersection of Technology, Lifestyle, Business, Entertainment, and Culture.

Follow us

Newslater

Those an equal point no years do. Depend warmth fat but her but played. Shy and subjects wondered

Random Posts

DappRadar’s RADAR cross-chain staking is live

DappRadar’s RADAR cross-chain staking is live

Here’s why Terra Luna Classic (LUNC) and USTC are suddenly rising

Here’s why Terra Luna Classic (LUNC) and USTC are suddenly rising

Where to buy LUNC coin

Where to buy LUNC coin

Report: Short Bitcoin ETF attracting a lot of attention

Report: Short Bitcoin ETF attracting a lot of attention

Where to buy USTC coin

Where to buy USTC coin

Tags

Bitcoin BTC buy CEO crypto cryptos gained heres Major market places price today token top
© Copyright 2021, All Rights Reserved