Bitcoin $82,825.91 price It fell by 8.5 percent in the last 24 hours to 77 thousand dollars. This decline in the biggest crypto currency increased the uneasiness in the market, while investors turned to the search for a safe harbor. Bloomberg’s senior commodity strategist Mike McGlone He sat on the agenda with his remarkable comments. McGlone pointed out that gold gained power, arguing that crypto currencies and stocks were extremely value.
Gold is strengthening against risky assets
According to McGLone’s latest assessments, a significant valuation change in the markets may be experiencing. Especially stocks And crypto currencyStating that they have been traded at higher levels than they deserve for a long time, McGlone stressed that investors are turning to safe ports again. Gold and US Treasury bonds are among the prominent assets in this process.
McGlone’s graphics shared goldCompared to the S&P 500, it shows how it performs in the long run. In the past periods of economic uncertainty Gold PricesPointing out that he made strong attacks, the analyst said that a similar rise could be again when we look at the current picture. This reinforces the identity of the “safe port” identity of gold.
Especially inflation, Geopolitical Risks And interest policies It is seen that gold and bonds have become re -shining investment instruments in this period when factors such as pushes investors to avoid risk.
Flash Bitcoin Criticism from McGlone: ”A zero can delete”
McGlone also spoke quite clearly about Bitcoin. Reminding once again the warning of “Bitcoin a zero” warning previously, the analyst claimed that the current market structure resembled the Dot-Com the balloon in 2000. At that time, Nasdaq rose to 5,000 levels and then collapsed McGlone, Bitcoin’in implied that he could face a similar fate.
Reminding that Bitcoin was born after the great economic crisis in 2008, the analyst now believes that this cycle may have ended. The largest crypto currency that recently tested the $ 100 thousand level is a sign that the summit was seen in the eyes. In this context, he added that extreme optimism should be replaced by cautious stance.
On the other hand, McGLone has made it clearly revealed investment preferences. Bitcoin defender Michael Saylor classic investor Warren BuffettComparing the analyst, he said he saw himself closer to Buffett. According to him, bonds in the long run is a more logical and stable investment tool.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
