⏰ Act Early, Profit Big!
Be among the first to access the newest altcoins. Don't miss out, click now!

Famous Bloomberg Analyst Makes Striking Claim about Bitcoin

  • Mike McGlone suggests that Bitcoin’s volatility has more potential to decrease, leading to a continuous reduction in the relative risk of the top cryptocurrency.
  • According to McGlone, Bitcoin’s volatility continues to decrease compared to that of gold, and it has more potential to decrease than most traditional assets.
  • Bitcoin is experiencing growing acceptance in the traditional financial industry, especially after BlackRock’s spot Bitcoin ETF application.

Bloomberg Senior Macro Strategist Mike McGlone has revealed his predictions about volatility in Bitcoin and compared it to Gold.

McGlone Expects Lower Volatility for Bitcoin

mike-mcglone

The volatility of Bitcoin has significantly decreased over the last few years, as evidenced by its price movement. Bloomberg Senior Macro Strategist Mike McGlone suggests that Bitcoin’s volatility has more potential to decrease, leading to a continuous reduction in the relative risk of the top cryptocurrency. However, it still has higher volatility when compared to gold, which is a traditional store of value.

On August 21st, Bloomberg Intelligence’s Senior Macro Strategist Mike McGlone shared data about the convergence of volatility between Bitcoin and gold. According to McGlone, Bitcoin’s volatility continues to decrease compared to that of gold, and it has more potential to decrease than most traditional assets. The decrease in Bitcoin’s volatility also reduces its relative risk, making it less risky.

“My chart, which is about 3 times gold, shows Bitcoin’s 90-day volatility is still relatively high compared to the traditional store of value, but it’s far below the peak of about 12 times in 2018.”

According to the report, the days of significant price movements in BTC are behind us. Bitcoin might not experience sudden price surges or rapid moves to all-time highs, as its volatility has significantly decreased.

bitcoin-to-gold-volatility-convergence

Bitcoin is gaining acceptance in the traditional financial industry, especially after BlackRock’s spot Bitcoin ETF application. Features like futures, cash-and-carry arbitrage, and exchange-traded funds are part of the maturation process of this foundational cryptocurrency.

Will BTC Price See Recovery?

Macro factors combined with weak technical chart patterns are putting pressure on the Bitcoin price. The Federal Reserve’s plan to continue interest rate hikes and the US Dollar Index (DXY) reaching 103.50 have recently caused the BTC price to drop.

According to a popular crypto analyst, every time BTC fell below the 200-day SMA over the last 10 years, it touched the Realized Price. Currently, the Realized Price is around $20,350.

The BTC price has fallen by 0.5% in the last 24 hours and is currently trading at a price of $26,024. The low and high prices in the last 24 hours were $25,986 and $26,260, respectively. However, the trading volume has increased by 4% in the last 24 hours.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.

BREAKING NEWS

Bybit Listing: Bybit to List Sidekick (K) on Spot

Bybit Listing: Bybit to List Sidekick (K) on Spot Bybit

UPBIT LISTING: 거래 스토리(IP) 신규 거래지원 안내 (KRW, BTC, USDT 마켓)

UPBIT LISTING: 거래 스토리(IP) 신규 거래지원 안내 (KRW, BTC,...

$IP listed on Upbit spot (KRW)

$IP listed on Upbit spot (KRW)

FUNDAMENTAL GLOBAL INC FILES $5 BILLION SHELF OFFERING, INTENDS TO USE PROCEEDS TO ACQUIRE ETHEREUM

FUNDAMENTAL GLOBAL INC FILES $5 BILLION SHELF OFFERING, INTENDS...

WHITE HOUSE GEARS UP FOR TRUMP TO NOMINATE MIRAN TO FED BOARD: BBG :

WHITE HOUSE GEARS UP FOR TRUMP TO NOMINATE MIRAN...

Ripple’s Legal Dispute with SEC Concludes: What This Means for XRP’s Future

{ "@context": "https://schema.org", "@type": "NewsArticle", "headline":...

Ether’s Recent Gains May Signal Potential Altcoin Rally Amid Mixed Trader Sentiment

{ "@context": "https://schema.org", "@type": "NewsArticle", "headline":...

Lugano Plan ₿ Forum 2025: Exploring Bitcoin’s Future in Global Economics and Financial Sovereignty

{ "@context": "https://schema.org", "@type": "NewsArticle", "headline":...

Ripple Raises Concerns Over U.S. Crypto Bill’s Vague Language and Its Impact on XRP and Innovation

{ "@context": "https://schema.org", "@type": "NewsArticle", "headline":...

XRP ETF Approval Odds Decline to 65% Amid SEC’s Crenshaw’s Ongoing Resistance and Market Speculation

{ "@context": "https://schema.org", "@type": "NewsArticle", "headline":...

Potential HBAR Price Dip Could Signal Buying Opportunity Amid Market Volatility

{ "@context": "https://schema.org", "@type": "NewsArticle", "headline":...

Bitcoin Consolidates Near $116K, Echoing Patterns Before Previous Surge to $100K

{ "@context": "https://schema.org", "@type": "NewsArticle", "headline":...

Solana’s Bullish Momentum Suggests Potential Breakout Above $206 Amid Strong Accumulation Trends

{ "@context": "https://schema.org", "@type": "NewsArticle", "headline":...
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img