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Home » No More Big Bitcoin Pumps, Asserts Bloomberg’s Mike McGlone

No More Big Bitcoin Pumps, Asserts Bloomberg’s Mike McGlone

Hania by Hania
September 20, 2023
in Bitcoin News
Reading Time: 2 mins read
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Bitcoin Options Valued at $640 Million Approach Expiry, Awaiting Market Implications
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Table Of Content:

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  • Bitcoin Value Continues To Drop
  • Bitcoin And Gold Fight For The Top Spot
  • The Price Of The Bitcoin Token

Mike McGlone has taken to the media to announce that the price of Bitcoin is becoming more and more unstable and its volatility has started overriding the one of Gold

Bitcoin Value Continues To Drop

Bloomberg senior micro strategist, Mike McGlone has gone ahead and said that the price of the token will continue to drop as time goes by. The price of the token still stands at a higher position compared to that of Gold.

Also Read: Decide On The Best Amongst Gold, Silver And Bitcoin: Robert Kiyosaki Speaks

Bitcoin And Gold Fight For The Top Spot

Mike also shared the Bitcoin-Gold volatility convergence information. He made it clear that the Bitcoin volatility is likely to surpass the one of gold and other assets in the market. At this moment, it seems like it’s not a good time to invest in the token with the drop being observed to have taken place a long time ago.

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No More Big Bitcoin Pumps, Asserts Bloomberg's Mike McGlone
Source: Mike McGlone

The report specifically says that the days of Bitcoin price skyrocketing are over as its volatility continues to decrease. Mike McGlone had noted how Bitcoin was trading at over 10 times as much as the valuable metal: Gold and also appreciated its maturity.

The Price Of The Bitcoin Token

According to Binance, the price of the token currently stands at 26,066.26$. The market capitalization is 507.34 BUSD and a trading volume of 9.03 BUSD. The supply at the time of writing is 19.46 million and the price has recorded a drop of -0.24% within the last 24 hours.

No More Big Bitcoin Pumps, Asserts Bloomberg's Mike McGlone

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Hania

Hania

Hania is a 30-year-old blogger who used to be a teacher before entering the world of writing. She is originally from India and has been writing blogs on various topics for 2 years now. Hania is particularly interested in exploring the intersections of finance, technology, and cryptocurrency. Her experience as a teacher has given her unique insights into the ways in which digital media can be used to facilitate learning and engagement. Through her writing, Hania hopes to share her knowledge and learning of crypto industry with everyone.

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