Bitcoin Volatility Becoming Like Gold: Are Price Surges Over?
Portfolio Pulse from Murtuza Merchant
Bloomberg Intelligence's macro strategist, Mike McGlone, suggests that the era of substantial Bitcoin price surges might be ending. He points to the convergence of Bitcoin's volatility with that of gold, indicating that Bitcoin's price swings are becoming less extreme. This could be a sign of growing confidence among institutional investors and wider acceptance of Bitcoin as a 'store of value'.
August 22, 2023 | 6:41 pm
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Bitcoin's volatility is converging with that of gold, suggesting that its era of substantial price surges might be ending. This could indicate growing confidence among institutional investors and wider acceptance of Bitcoin as a 'store of value'.
The analysis by Mike McGlone suggests that Bitcoin's volatility is decreasing and becoming more like that of gold. This could mean that the era of substantial price surges for Bitcoin might be ending. However, this could also be seen as a positive sign, indicating that Bitcoin is maturing as an asset class and gaining wider acceptance as a 'store of value'.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100