Bitcoin and other cryptocurrencies have performed poorly over the past decade, and Mike McGlone says the peak has passed

Odaily News: Bloomberg analyst Mike McGlone stated that from a risk and portfolio management perspective, Bitcoin and other cryptocurrencies over the past near-decade may be classified as underperforming assets. The MarketVector Digital Assets 100 Index (MVDA, approximately two-thirds composed of Bitcoin) has been essentially flat since 2017, while the Nasdaq 100 Index (NDX) has continued to rise over the same period. Although MVDA's average volatility is approximately 3 times that of NDX and it is positively correlated with the stock market, it has failed to effectively diversify risk.