Bitcoin May Lose to Gold in Short Term: Bloomberg’s Chief Expert
The post Bitcoin May Lose to Gold in Short Term: Bloomberg’s Chief Expert appeared on BitcoinEthereumNews.com.
Mike McGlone, Bloomberg’s senior commodity strategist, has taken to his social media account to share part of the recent Bloomberg Intelligence report regarding the current market stance of Bitcoin and gold. He believes that gold may begin to gain against the digital gold – Bitcoin – soon, stating that BTC may have peaked at the $100,000 price level. Bitcoin may be losing momentum to gold McGlone’s tweet mentions that VIX (the Chicago Board Options Exchange Volatility Index) is going down at the moment, which indicates that stock market volatility is fallinf. Therefore, gold is starting to gain momentum and outperform “the AI-driven S&P 500 on a one- two- and three-year basis.” Bottoming VIX Might Favor Gold vs. Bitcoin, Beta – #Bitcoin may have peaked at about $100,000, suggesting that risk assets are rolling over with buoyancy implications for #gold. Or is the rapidly rising digital asset just pausing at this threshold? A key gauge that augurs… pic.twitter.com/QfoiIBjJQy — Mike McGlone (@mikemcglone11) February 11, 2025 Gold is currently outperforming not only the stock market but riskier assets as well, including Bitcoin, McGlone says to the finance market community. He also raises the question of whether Bitcoin has peaked at approximately the $100,000 level or if BTC is just undergoing a brief correction to gain momentum for a further price increase. McGlone tweeted: “Lower stock market volatility might favor gold over riskier assets like Bitcoin.” Related Saylor’s Strategy makes gargantuan Bitcoin purchase Despite the fact that Bitcoin might be losing momentum, Michael Saylor’s company MicroStrategy, recently rebranded to simply Strategy, has announced a massive BTC purchase, continuing its everlasting Bitcoin accumulation. This time, the company has purchased an astounding 7,633 Bitcoins worth roughly $742 million in total. Before that, also this year, Strategy stunned the market when it acquired $1.1 billion worth…
Filed under: News - @ February 12, 2025 2:21 am