• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Gold-to-Bitcoin Ratio: Potential Changes Ahead

user avatar

by Giorgi Kostiuk

10 months ago

Yesterday, Bitcoin dropped by approximately 6.37%. Bloomberg analysts predict a potential shift in the gold-to-Bitcoin ratio, which could affect the market.

Gold-to-Bitcoin Ratio Could Drop

A drop in the gold-to-BTC ratio indicates that the price of gold has decreased compared to the price of Bitcoin. In early March 2024, the ratio was very close to its current level. In September 2024, it peaked at 0.047.

A post by Mike McGlone, senior commodity strategist at Bloomberg Intelligence, suggests that there is a chance of the gold-to-Bitcoin ratio declining in the coming days.Mike McGlone

Bitcoin May Gain Strength Over Gold

McGlone’s post suggests that Bitcoin could become more valuable than gold in the coming days. The analyst states that if the US stock market falls, it may affect both gold and Bitcoin.

Conclusion and Possible Implications

Bloomberg’s analysis indicates that Bitcoin may gain more value compared to gold, especially if the US stock market continues to decline. Recent shifts in the gold-to-BTC ratio highlight Bitcoin's potential strength.

With the current market changes, Bitcoin might strengthen its position against gold, making the market situation particularly interesting to watch further.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Dunamu's Record Fine Sets Precedent for VASPs

chest

The recent 352 billion won fine imposed on Dunamu, the operator of the Upbit exchange, sets a powerful precedent for compliance expectations within the VASP sector.

user avatarGustavo Mendoza

BlockDAG Gains Global Exposure Through F1 Partnership

chest

BlockDAG's partnership with BWT Alpine F1 team enhances its visibility and positions it as a serious player in the crypto space.

user avatarRajesh Kumar

BlockDAG Technology Gains Momentum Amid Presale

chest

BlockDAG is quietly advancing while the market focuses on short-term price movements, showcasing its unique technology and potential.

user avatarMiguel Rodriguez

Hyperliquid Faces Resistance at 30 Level Amid Recovery Signs

chest

Hyperliquid crypto is facing challenges in breaking past the 30 level despite recent recovery signs.

user avatarLuis Flores

Resistance Levels Indicate Need for Short-Term Cooling in POL Price Rally

chest

As POL approaches resistance levels, signs of hesitation and profit-taking have emerged, suggesting a potential cooling phase.

user avatarArif Mukhtar

Polymarket Expands Language Options to Enhance Global Accessibility

chest

Polymarket is testing a multilingual adaptation of its website to enhance global accessibility.

user avatarMaria Gutierrez

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.