Bitcoin менен (BTC) existing for nearly 14 years, the крипто has undergone unprecedented growth beating other traditional каржы assets in that time. The digital asset’s growth has translated to speculation when it will eventually mature and form part of the mainstream financial system.
Кызыктуусу, тауар strategist at Bloomberg Intelligence Mike McGlone has suggested that Bitcoin has an ‘appreciation advantage’ signaling an imminent maturation stage, he said in a Tweet October 19 боюнча.
According to McGlone, the possibility of maturation stands out compared to products like crude oil, which attained the current price of $87 per barrel in 2017 before Bitcoin came into existence.
“Bitcoin May Be Entering Unstoppable Maturation Stage: BI Crypto — The fact that Bitcoin didn’t exist in October 2007, when WTI crude oil rose to its current $84 a barrel for the first time, may indicate the appreciation advantage of the nascent technology,” he said.
As per the Bloomberg Intelligence analysis, the Bitcoin maturation stage is highlighted by the asset’s 2022 Q4 price movement. Notably, the analysis indicates that despite the recent Federal Reserve interest hike, Bitcoin’s volatility has reduced, showing signs of bottoming.
Bitcoin’s maturity already playing out
буга чейин билдирди by Finbold, Bitcoin volatility has reduced in recent months beating traditional asset classes like the Dow Jones index.
Additionally, the analysis suggested that Bitcoin’s status as a risk-off asset might be playing out in the year’s second half, with the flagship cryptocurrency likely transitioning to emulate assets like gold.
Белгилей кетсек, катары билдирди by Finbold, McGlone had projected that after correction in 2022 H1, Bitcoin would likely rally in the last six months of the year on the road toward a high of $100,000.
Bitcoin valuation compared with traditional assets
Furthermore, despite a massive correction in 2022, Bitcoin still commands a significant market capitalization compared to mainstream запасы.
A Finbold билдирүү on October 18 indicated that Bitcoin, with a market carpet of $374.78 billion, ranked higher than JPMorgan’s (NYSE: Жалобы), $349.31 billion, and Bank of America’s (NYSE: ЖЕК) 278.82 миллиард долларга.
At some point, Bitcoin ranked among the top ten most valuable assets globally based on market capitalization when it peaked in late 2021 at above $1 trillion.
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Source: https://finbold.com/bitcoin-could-be-entering-unstoppable-maturation-stage-says-commodity-veteran/