Mike McGlone, Bloomberg's top commodity spot strategist, believes that Bitcoin may have risen against the trend and shown a different strength. In September, she indicated on Twitter that Bitcoin had already been discounted. At that time, the Federal Reserve meeting raised interest rates again.
Megron believes that Bitcoin may be entering an "irresistible stage of improvement" at this stage. According to screen shots, BTC has the lowest volatility compared with Bloomberg Commodity Index.
The screenshot in a Bloomberg Intelligence statement on oil and BTC shows that Bitcoin may be positioned as a safe haven asset this year, because it more or less resisted the interest rate hike at the Federal Reserve meeting this year and kept trading between $19000 and $20000.
For the most part, the report repeated the specific content that Maglon had shared on the Twitter joystick before: Bitcoin and the stock market are closely related to the overall economic development of the United States. Last week, BTC showed a very low degree of uncertainty, which may be because the sales market has been waiting for the opening of new houses trading on the S&P 500 index.
After the increase of related BTC, when the asset price rose to the $19800 range, it tried to maintain close to this level in the following days, and returned to normal on October 18 at $19600.
However, at the time of writing this article, the data gold price has fallen to 19220 dollars.
