Bloomberg analyst: Bitcoin may usher in a major reset and is currently overvalued relative to gold

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ODAILY
03-25
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Planet Daily News: Bloomberg Senior Commodity Strategist Mike McGlone suggests that the price of Bitcoin relative to gold may have reached its peak and could be on the verge of a major reset. He analyzed that the ratio of Bitcoin to gold in 2024 (how many ounces of gold equal 1 BTC) reached a peak of 40 times, meaning the value of one Bitcoin is 40 times that of an ounce of gold. However, McGlone seems to believe that this situation may not be sustainable and could likely reverse in 2025. Overall, McGlone explicitly warns that the stock market and Bitcoin may return to historical average levels due to increased risk, which means if Bitcoin is currently overvalued relative to gold, a significant correction could occur. (U.today)

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