Crypto NewsEthereumComment from Bloomberg Analyst Mike McGlone on the Trend of Ethereum!

Comment from Bloomberg Analyst Mike McGlone on the Trend of Ethereum!

Bloomberg senior strategist Mike McGlone evaluated Ethereum (ETH) in his latest statement.

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According to Bloomberg Intelligence senior commodities strategist Mike McGlone, Ethereum (ETH) may have reached its highest performance relative to the Nasdaq 100 Stock Index.

In a tweet on June 11, McGlone compared Ethereum's ratio to the Nasdaq 100, an benchmark index that tracks the performance of 100 leading non-financial companies listed on the Nasdaq.

The analyst argued that the days of Ethereum outperforming the Nasdaq 100 may be over.

He noted that the rate first reached the current level of 0.13 in early 2018, when Ethereum had been trading for nearly two years. Since then, the rate has fluctuated between 0.05 and 0.2, which indicates that Ethereum has not significantly outperformed the Nasdaq 100 in terms of price growth.

McGlone suggested that one of the reasons for this trend is that Ethereum's price is reaching maturity in the mainstream, as evidenced by its decreasing relative annual volatility.

He also pointed out that Ethereum is facing competition from more established technologies such as artificial intelligence (AI), which has gained momentum recently. He cited Nvidia, the leading manufacturer of graphics processing units (GPUs) for artificial intelligence applications, as an example of a company that has seen a year-over-year increase of more than 100% as of June 7, while Ethereum was flat.

McGlone's tweet reflects his view that Ethereum may have reached a plateau in terms of growth potential, according to the Nasdaq 100, which represents some of the world's most successful and innovative companies.

According to this view, Ethereum may perform worse in the coming period.

*Not investment advice.



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