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Cryptocurrency Ecosystem => Bitcoin Forum => Bitcoin News & Updates => Topic started by: sirty143 on February 05, 2024, 03:17:42 AM

Title: Commodity Analyst Mike McGlone Says Gold Glitters Over Bitcoin as Crypto-to-Meta
Post by: sirty143 on February 05, 2024, 03:17:42 AM

Commodity Analyst Mike McGlone Says Gold Glitters Over Bitcoin as Crypto-to-Metal Ratio Plunges Post-2021

(https://i.imgur.com/tlvNGc7m.jpg)

Bloomberg’s commodity market expert Mike McGlone warns of a potential downturn for bitcoin, highlighting its disappointing performance against gold since its peak in 2021... See more for yourself here (https://news.bitcoin.com/commodity-analyst-mike-mcglone-says-gold-glitters-over-bitcoin-as-crypto-to-metal-ratio-plunges-post-2021/).

Your opinion is greatly appreciated.

Title: Re: Commodity Analyst Mike McGlone Says Gold Glitters Over Bitcoin as Crypto-to-Meta
Post by: Tribalchief on February 05, 2024, 03:12:41 PM

Well, I am not a market analyst like McGlone, but why on earth should he use the 2021 ATH for comparison. Bitcoin is never stable. It's volatility and the protocols makes it difficult to maintain a stable price. Even if Bitcoin has fallen short of gold’s performance since reaching its peak in 2021, he should patiently wait for the next Bull market, were the price of gold would be outclass in terms of the ratio method.