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Bloomberg Analyst: Poor Performance of Cryptocurrencies After Risk Adjustment May Signal End of Rapid Asset Growth Cycle
Summary: According to Bloomberg Intelligence senior commodity strategist Mike McGlone, the performance of cryptocurrencies after risk adjustment has been inferior to global stocks, potentially signaling the end of the rapid asset growth cycle. From the end of 2017 to December 30, the Bloomberg Galaxy Crypto Index (BGCI) has risen by approximately 90%, but this increase is ...
According to Bloomberg Intelligence senior commodity strategist Mike McGlone, the performance of cryptocurrencies after risk adjustment has been inferior to global stocks, potentially signaling the end of the rapid asset growth cycle. From the end of 2017 to December 30, the Bloomberg Galaxy Crypto Index (BGCI) has risen by approximately 90%, but this increase is only equivalent to the overall market capitalization of global stocks. Meanwhile, its annual volatility is about 7 times higher. This indicates that despite taking on significantly higher risks, cryptocurrencies have not delivered corresponding excess returns.
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Link: Bloomberg Analyst: Poor Performance of Cryptocurrencies After Risk Adjustment May Signal End of Rapid Asset Growth Cycle [Copy]
