The cryptocurrency market took a hit early this year, but the coming months might lead the market toward the light at the end of the tunnel. Bloomberg analysts explain that this is highly possible, and name cryptocurrencies that will lead the bullish takeover.
In its February Intelligence Report, Bloomberg strategists explain why Bitcoin, Ethereum, and Stablecoins are most promising in the near term. Despite all assets, especially Bitcoin, experiencing a turbulent price movement since the year began, Bloomberg is confident that the asset will not only bounce back but that it will also morph into a “global digital collateral.”
“The proliferation of crypto dollars is an indication of the increasing dominance of digital assets, with bullish implications for the greenback, Bitcoin and Ethereum.” the report read.