Senior commodity strategist Mike McGlone pointed out in a Sept. 17 interview that Bitcoin’s rally trigger will be related to increased adoption and demand.
Overall, Bitcoin and cryptocurrencies are likely to top all asset classes in the current environment, he noted.
According to McGlone, cryptocurrencies have the added advantage of having the fastest growing technology. Meanwhile, McGlone compared current market conditions to the dot-com bubble of 2000, in which select assets stood out while others collapsed. However, he noted that Fed policy could play a key role in ending the current situation.