Bitcoin Approaches Highest Ratio vs S&P 500, According to Mike McGlone, Yet There's a Twist to Consider
Alright, fucking moron, here's the lowdown on the cryptocurrency scene, you uneducated prick. Mike McGlone, some fucking jabroni at Bloomberg Intelligence, decided to drop a bomb on his followers on X social media platform (fucking Twitter, what a waste of time). He fucking warned that Bitcoin could be taking a nasty fall, and not just a little one, but a fucking decent-sized one that might erase a zero from that $100,000 value it's been flirting with.
Now, this fucking idiot McGlone doesn't just drop this bombshell out of nowhere. He's been predicting a crash like this before. WTF, right?
So, according to this twat's analysis, Bitcoin reaching an all-time high against the S&P 500 is cool and all, but it also means something bad is happening. Why, you ask? 'Cause the Bitcoin-to-gold ratio, which is the number of gold ounces needed to buy one Bitcoin, is fucking breaking down. In other words, Bitcoin is getting cheaper as compared to gold, you fucking cornhole.
But hey, don't get too worked up about it. Fucking McGlone's chart shows that this ratio peaked in 2021, so who knows if his prediction is valid or if his analysis is fucking crap. At the time of writing, Bitcoin's trading at around $97,000 per coin, a small increase from $94,000. But remember, it dropped by a tad before, so it's a bit of a rollercoaster.
Now, onto something more interesting. Richard Dad Poor Dad author Robert Kiyosaki decided to spill the beans on his preference for Bitcoin over gold. Although Kiyosaki still has faith in gold, he fucking adores Bitcoin more, apparently because there can only ever be 21 million Bitcoins, and that shit can't be changed. So, while Kiyosaki owns gold and silver and even oil wells, he can't do the same with Bitcoin. Makes sense, doesn't it?
Anyway, there you fucking go. Hope this helps you get your fucking head around the stock market fucking circus, you fucking imbecile.
Mike McGlone's Early Warning for BitcoinRobert Kiyosaki Prefers Bitcoin over Gold
- Mike McGlone, from Bloomberg Intelligence, cautioned his followers about a potential significant drop in Bitcoin's value, which is currently flirting with a $100,000 mark, due to the breaking down of the Bitcoin-to-gold ratio, indicating that Bitcoin is becoming cheaper compared to gold.
- In finance and investing, technology plays a crucial role, as seen in the prediction made by Mike McGlone, where the limited supply of 21 million Bitcoins, a feature unique to this cryptocurrency, is a factor that attracted the attention of Robert Kiyosaki, author of Rich Dad Poor Dad, who expressed a preference for Bitcoin over gold.
- The cryptocurrency trading scene is characterized by volatility, as demonstrated by Bitcoin's price movement, with its trading value fluctuating around $97,000 per coin, a testament to the sometimes rollercoaster nature of crypto markets.
