# Commodity Strategist’s Insight into the Crypto Market Rally
Mike McGlone, the Senior Commodity Strategist at Bloomberg Intelligence, recently shared his perspective on the future of cryptocurrencies. In a post on July 21, he highlighted the potential relationship between Bitcoin (BTC) and other digital assets with the performance of the stock market.
## Key Insights from Mike McGlone
In response to Scott Melker, the host of The Wolf Of All Streets podcast, McGlone emphasized the importance of the stock market’s trajectory on the stability and growth of cryptocurrencies. He stated, “Bitcoin, cryptos may be fine, as long as the stock market keeps going up.”
### The Interconnection of Crypto and Stock Markets
During the podcast discussion, McGlone underscored the intrinsic link between cryptocurrencies and the stock market. He emphasized that understanding the movement of the stock market is crucial when analyzing the crypto space. As he put it, “I can’t even have a view on cryptos … anymore without having a view of the stock market first. It’s got to go up first.”
### Market Dynamics and Investor Perception
Discussing the competitive nature of the crypto market, McGlone pointed out the challenges faced by new market participants in navigating the crypto landscape. He likened Bitcoin to a leverage stock that mirrors the movements of the stock market, cautioning investors against relying solely on past performance to predict future gains.
## Contrasting Views and Institutional Influence
While McGlone emphasized the correlation between the stock market and crypto, co-guest James Lavish of Bitcoin Opportunity Fund presented a different perspective. Lavish highlighted the cyclical nature of Bitcoin’s market performance and its potential as a hedge against traditional fiat currencies.
### Institutional Demand and Liquidity Expansion
Lavish also touched on the impact of institutional demand on Bitcoin’s price dynamics, especially in terms of liquidity expansion. He emphasized Bitcoin’s unique position as a non-inflationary asset compared to fiat currencies, making it an attractive option for investors seeking wealth preservation.
In conclusion, the insights shared by Mike McGlone and James Lavish shed light on the complex dynamics driving the crypto market rally and the interplay between digital assets and traditional financial markets.
*Featured image via Shutterstock*
**The post was originally published on Finbold.**