Bloomberg analyst says crypto has underperformed for nearly a decade and its peak has passed
- —MVDA has been roughly flat since 2017 while the Nasdaq 100 has climbed
- —MVDA volatility averages about three times that of the stock market
- —MVDA is positively correlated with equities and offers no diversification
- —McGlone sees the US ETF launch and Trump's 2024 pivot as crypto's peak
Why it matters: The argument that crypto fails as a diversifier could reinforce institutional caution, even as ETF inflows still drive market sentiment.
Source: PANews