What could stop Bitcoin’s downturn against gold? BE model and low stock market volatility
Mike McGlone, a senior strategist at Bloomberg, predicts that Bitcoin might drop to $50,000 due to significant overbought conditions relative to gold. This outlook is reinforced by decreased volatility in the stock market, which contributes to corrections.
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The market is currently split between bearish and bullish camps, each accumulating their arguments. This situation keeps investors closely watching as much depends on which side ultimately proves correct.
Despite the uncertainty, Bitcoin’s price dynamics relative to gold will remain a key focus for traders and investors in the near future.
