• 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

a year 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

Bitcoin Price Shows Moderate Resilience Despite Recent Market Volatility

chest

Bitcoin has shown moderate resilience, climbing over 16% to trade around $70,000, despite significant losses in the past week and month.

user avatarAndrew Smith

US Snowstorm Leads to Major Decline in Bitcoin Hashrate

chest

A recent snowstorm in the US has caused a significant drop in the Bitcoin Hashrate, with American miners reducing their electricity consumption to ease pressure on the power grid.

user avatarAyman Ben Youssef

Analyst Discusses Changes in Crypto Market Cycles

chest

Analyst Altcoin Sherpa discusses the evolving cycles of the cryptocurrency market, highlighting a shift to hyper-accelerated trends and advising investors to capitalize on shorter rallies.

user avatarTando Nkube

Bitget CEO Predicts Growth in Real-World Asset Sector

chest

Gracy Chen, CEO of Bitget, predicts significant growth in the Real-World Asset sector by 2030, while expressing skepticism about the future of altcoin seasons.

user avatarJacob Williams

Emerging Inverted Altcoin Season Observed

chest

Market analyst Ali Martinez indicates a new 'inverted altcoin season' in the cryptocurrency market, marked by structural breakdowns of altcoins instead of traditional rallies.

user avatarZainab Kamara

Bitcoin Mining Difficulty Expected to Drop by 13% Due to Hashrate Disruption

chest

Bitcoin mining Difficulty is expected to decrease by 13% on February 6th due to disruptions from a recent snowstorm in the US.

user avatarSon Min-ho

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.