The McRib Effect: Can McDonald's Saucy Sandwich Predict Bitcoin's Next Bull Run?
Portfolio Pulse from Mehab Qureshi
Crypto analyst Zack Voell has noticed a pattern where the reintroduction of McDonald’s McRib sandwich has aligned with bullish trends in the cryptocurrency market. Since 2016, out of the last seven instances, Bitcoin’s price has surged four times following the sandwich’s return. Notably, the most significant returns were witnessed in 2017 and 2021, coinciding with bull rallies in those respective years. Conversely, two instances in 2018 and 2022 saw the sandwich’s return accompanied by significant downturns in Bitcoin’s value.
October 12, 2023 | 4:11 am
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
The reintroduction of McDonald’s McRib sandwich has historically aligned with bullish trends in the Bitcoin market. This pattern has been observed since 2016, with Bitcoin’s price surging four times following the sandwich’s return.
The correlation between the reintroduction of McDonald’s McRib sandwich and Bitcoin's price surge has been observed since 2016. This pattern suggests that the return of the McRib could potentially influence Bitcoin's price in the short term.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80