Cointelegraph
Published Oct 06, 2022 02:21AM ET
Updated Oct 06, 2022 04:00AM ET
Senior commodity strategist at Bloomberg Intelligence, Mike McGlone, stated October has historically been the best month for Bitcoin (BTC) since 2014, averaging gains of about 20% for the month, and that commodities appearing to peak could imply that Bitcoin has reached its bottom.
In an Oct. 5 Bloomberg Crypto Outlook report, McGlone says while the rise of interest rates globally is putting downwards pressure on most assets, Bitcoin is gaining the upper hand when compared with commodities and tech stocks like Tesla (NASDAQ:TSLA), with the report noting:
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Written By: Cointelegraph
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