Bloomberg Analyst: Cryptocurrencies' Poor Post-Risk-Adjusted Performance May Signal End of This Risk-On Asset Rally Phase
BlockBeats News, December 31st, Bloomberg Intelligence Senior Commodity Strategist Mike McGlone wrote that "Cryptocurrency's performance after a risk-off adjustment has been inferior to global stocks, possibly signaling a rapidly rising risk asset cycle may be nearing its end."
"From the end of 2017 to December 30th, the Bloomberg Galaxy Crypto Index (BGCI) has risen by about 90%, but this increase is only in line with the overall market capitalization of global stocks; meanwhile, its annualized volatility is about 7 times higher. This means that despite taking on significantly higher risk, cryptocurrency assets have not delivered a corresponding excess return."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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