Renowned commodity analyst, Mike McGlone, has expressed concerns about the performance of bitcoin in comparison to gold since its peak in 2021. McGlone noted that the bitcoin-to-gold ratio has dropped by approximately 40% from its highest level of 37 times. In his analysis, McGlone highlighted the significance of the ratio as a leading indicator, suggesting that bitcoin’s underperformance could indicate a potential downturn. He emphasized that this trend is likely influenced by the end of zero-interest-rate policies and the liquidity surge observed in 2021. As a result, assets like gold and bitcoin, which do not generate earnings or interest, are becoming less attractive in portfolios. McGlone’s analysis raises concerns about the sustainability of bitcoin in comparison to traditional commodities like gold.
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Commodity Analyst Mike McGlone Says Gold Glitters Over Bitcoin as Crypto-to-Metal Ratio Plunges Post-2021
