The new report predicts a bright future for cryptocurrencies

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Bloomberg Intelligence research group has released a new report on the evolution of cryptocurrencies. Compare their performance with stocks, bonds or commodities. Which assets perform best? What future can we expect for bitcoin? Let’s go back to this study.

What is the future of bitcoin?

In its report, Bloomberg Intelligence says that in the future, bitcoin may behave more like a US Treasury stock than a stock. BTC, like gold or bonds, could benefit from a return to deflation for good reason.

Also in this report we can read:

Bitcoin has been one of the best-performing assets since its inception a decade ago, and we believe it will continue to do so in the future, especially as it could become a global stock with a performance close to that of government bonds or gold.

Therefore, the study says that the first cryptocurrency by market capitalization can do it. become a store of value. Bitcoin would also already be an important indicator of risk.

Furthermore, the study shows that Bitcoin has outperformed commodities. The price of BTC is also likely to recover faster than the latter in the event of a bullish reversal in the markets.

Cryptocurrencies outperform stocks despite the bear market

We also learn in the report that while the Bloomberg Galaxy Crypto Index (BCGI) has corrected by around 70% this year, the index is still outperforming the NASDAQ 100. The cryptocurrency market would actually perform 2.5 times better than average. global. included in the New York index.

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The NASDAQ 100 list includes stocks from Apple, Intel, Activision, Meta, Microsoft, Nvidia, and Paypal. Although the companies included in this index are leaders in their sectors for many of them, their performance does not compete with bitcoinn, according to the report.

In fact, the losses recorded in the cryptocurrency markets will be minimal compared to the $ 25 trillion lost by tech stocks. The report also compares these losses with those that occurred at the end of the dot-com bubble between 2000 and 2002.

Stablecoin, market indicators

The stablecoins, for their part, also seem to be promising promising future. First, according to the study, their growth reflects the growing adoption of cryptocurrencies.

Furthermore, the report states that the market for these cryptocurrencies has grown from $ 300 million in August 2018 to $ 150 billion today.

Furthermore, the migration of dollars to major stablecoins will be a key indicator of the bear market divided by shares in the aforementioned tech sector. It will also illustrate the enormous appeal of cryptocurrencies in 2022. Tether (USDT) and USD Coin (USDC) make up the bulk of the $ 150 billion stablecoin market.

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Ethereum, a global institutional asset

As for Ethereum, this new study is full of praise as it proves it. huge growth potential. The transition of the blockchain to a Proof-of-Stake (PoS) consensus network could make ETH a “global institutional asset”.

In the report we read:

Ethereum’s success will be based on its usefulness for participation in economic and social activities. Stablecoin, DeFi, NFT were the first use cases for (primitive) smart contracts that drove the demand for blockchain.

We also learn that Ethereum may be undervalued at the moment. According to Bloomberg, as of May 21, the asset has risen more than its price growth suggests. Key metrics such as active users, addresses with non-zero balances and transactions would outweigh a bear market.

This new report confirms the promise of a bright future for cryptocurrencies and in particular for bitcoin, ethereum and stablecoin. Notably, despite the bear market, cryptocurrencies are also clearly outperforming the tech sector.

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