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.
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.
