Days Of Big Bitcoin Pumps Are Over: Bloomberg's Mike McGlone
Bitcoin to Gold Volatility Convergence Mike McGlone , senior macro strategist at Bloomberg Intelligence, on August 21 shared data on Bitcoin-to-gold volatility convergence. According to McGlone, Bitcoin’s volatility continues to drop against that of gold and has more room to decline than most traditional assets. Bitcoin’s volatility drop is also causing crypto’s relative risk to decline, making it less risky. advertisement “At about 3x that of gold, my graphic shows Bitcoin’s 90-day volatility still relatively elevated vs. the conventional store of value, but well off the peak from 2018 of around 12x.” According to the report, the days of big moves in BTC price are over. Bitcoin may not see a sudden price jump or swift move to an all-time high due to a significant decline in volatility. Source: Mike McGlone Bitcoin witnessing growing adoption in the traditional finance industry, especially after BlackRock spot Bitcoin ETF fil...