Bloomberg Galaxy Crypto Index Loading... : Investor Sentiment and Bull/Bear Views
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22:05
Jul 01
Jul 01
Crypto index risks 90% drop
McGlone highlights the Bloomberg Galaxy Crypto Index as evidence of excess in the broader crypto space. There are now 18-19 million cryptocurrencies versus one in 2009, and the index is down about 15% this year even as the stock market is up 5%. He says the entire crypto space could drop 90% and still be legitimate, and Bitcoin's high correlation to other cryptos pulls it into that risk.
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About Bloomberg Galaxy Crypto Index Investor Commentary
Across the available history and selected sources, Buzzberg tracks Bloomberg Galaxy Crypto Index across 1 sources: 0 bullish vs 1 bearish calls from 1 authors. Historical directional balance: -100% = 100 × (bullish − bearish) / all deduplicated idea records, including other directions. This is neither a probability of a price rise nor the share of bullish authors. 1 total trade idea tracked. Latest voices: Mike McGlone.