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Bitcoin to Continue Outperforming Other Cryptos, McGlone Predicts
In a recent statement, crypto analyst and trader, McGlone, has reiterated his stance on the performance of Bitcoin in comparison with other cryptos. He believes that Bitcoin will continue to outshine its peers due to its unique position as the first-ever cryptocurrency.
According to McGlone’s analysis, Bitcoin is likely to stay ahead of other cryptocurrencies in the short-term and potentially long-term. He attributes this to its dominance in terms of market capitalization, liquidity, and regulatory clarity.
It is worth noting that McGlone has been consistently bullish on Bitcoin’s prospects, having predicted significant growth for the asset over the years. However, he also emphasizes that it is crucial for investors to set realistic expectations about potential gains.
As per McGlone’s data analysis, the correlation between Bitcoin and S&P 500 has resulted in a correction of approximately 0.50 on a 100-day basis, which he believes will have a lasting impact on the market.
Bitcoin has been on an incredible run since the start of the year, with some predictions suggesting that it may reach as high as $150,000 or even surpass this milestone. However, McGlone is more cautious in his prediction, stating that it’s difficult to predict the exact trajectory of Bitcoin’s price action but he believes that its performance will continue to surpass other cryptocurrencies.
In a recent interview with U.Today, McGlone discussed some of his findings and shared insights on the potential impact of regulatory changes on the cryptocurrency market.
Source: u.today
