Bitcoin may be approaching an unstoppable maturity stage, according to a commodities veteran

In the approximately 14 years that Bitcoin (BTC) has existed, it has seen remarkable growth compared to other conventional financial assets. The rise of digital assets has prompted discussion about when they would reach maturity and enter the mainstream financial system.

Mike McGlone, a commodities analyst at Bloomberg Intelligence, tweeted on October 19 that Bitcoin had an ‘appreciation advantage’ indicating an upcoming maturity stage.

According to McGlone, the prospect of maturing stands out in comparison to commodities like crude oil, whose price reached $87 per barrel in 2017 before Bitcoin existed.

According to the study of Bloomberg Intelligence, the Bitcoin maturity stage is emphasized by the asset’s price movement in the fourth quarter of 2022. Notably, the data reveals that Bitcoin’s volatility has decreased, indicating a possible bottoming, despite the latest interest rate rise by the Federal Reserve.

As previously reported by Finbold, the volatility of Bitcoin has decreased over the last several months, outperforming established asset classes such as the Dow Jones index.

In addition, the study indicated that Bitcoin’s reputation as a risk-off asset may be fading in the second half of the year, with the leading cryptocurrency likely changing to resemble gold.

Notably, Finbold claimed that McGlone had predicted that following a fall in the first half of 2022, Bitcoin will likely rise in the last six months of the year ready to travel to a high of $100,000.

Moreover, despite a severe fall in 2022, Bitcoin maintains a considerable market capitalization relative to traditional equities.

Also Read: After Institutional Investors Withdraw 48,000 Bitcoin From Coinbase, Expert Predicts A Price Boom

Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.

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