Bloomberg analysts: Crypto assets' poor risk-adjusted performance may indicate that the current rapid rise in risk assets is nearing its end.

[Bloomberg Analyst: Crypto Assets' Poor Risk-Adjusted Performance May Signal the End of the Current Rapid Rise in Risky Assets] According to Mars Finance, on December 31st, Mike McGlone, Senior Commodity Strategist at Bloomberg Intelligence, stated, "The underperformance of cryptocurrencies after risk adjustment compared to global equities may be signaling that the current rapid rise in risky assets is nearing its end. From the end of 2017 to December 30th, the Bloomberg Galaxy Crypto Index (BGCI) rose by approximately 90%, but this increase is only comparable to the increase in the total market capitalization of global equities; meanwhile, its annual volatility is about 7 times higher. This means that crypto assets have not delivered corresponding excess returns despite taking on significantly higher risks."