Mike McGlone, Bloomberg's lead commodity strategist, believes there is a force that could drive growth in bitcoin and gold this year.

"This may enhance value storage assets."

Mike McGlone took to Twitter on Feb. 4 to share his thoughts on the opportunities that could see a rise in value-storage assets in the near future. He mentioned not only Bitcoin, but also gold.

McGlone believes that while the current decline in the stock market may prevent the Fed from raising interest rates, it could also drive growth in bitcoin and gold, both of which are safe-haven assets.

Experts believe that this outlook is the basis for a diversified portfolio.

#Bitcoin could be a win-win with the #StockMarket – In fact, the main force reversing the likely rise in the Fed – a fall in the stock market – could strengthen store-of-value assets like gold and bitcoin, the basis for diversification. pic.twitter.com/WD30bSXuLo

– Mike McGlone (@mikemcglone11) February 4, 2022

However, analysts at Goldman Sachs and Bank of America both believe that the decline in the stock market this year is unlikely to stop the Federal Reserve's plans to rise in March.

Bitcoin and ethereum are still in the early adoption stage

About a week ago, Bloomberg's leading commodity strategist said on Twitter that Bitcoin and Ether, the two top cryptocurrencies, are still in the early adoption stage.

McGlone tweeted that he expects them to continue to rise due to supply and demand dynamics, noting that only a black swan event could prevent them from appreciating further.

So far, bitcoin has appreciated to the $41,500 level, while ethereum has regained $3,000.