Analyst: BTC could crash worse than the stock market during a recession
Mike McGlone, a senior commodities analyst at Bloomberg, discussed market volatility in a small group discussion this week. During the meeting, McGlone emphasized that the trading volume of stablecoin USDT is twice that of Bitcoin.
In addition, McGlone expressed concerns about Bitcoin as an investment asset. He mentioned that stablecoin issuers support their peg to the US dollar with government bonds, indicating a preference for low volatility. From certain investment perspectives, the volatility of Bitcoin (BTC) lags behind that of gold and the US dollar. At the same time, during an economic recession, BTC's collapse may be more severe than the stock market.
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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