24/7 Cryptocurrency News

Gold’s Disparity to Beat Bitcoin is Regaining Fuel – Bloomberg’s Mike McGlone

Mike McGlone claims that the recent trend in which the price of gold has been increasing relative to the price of Bitcoin
Published by
Gold’s Disparity to Beat Bitcoin is Regaining Fuel – Bloomberg’s Mike McGlone

Mike McGlone, Bloomberg Intelligence’s Senior Commodity Strategist claims that the recent trend in which the price of gold has been increasing relative to the price of Bitcoin is significant and could continue for some time. He stated that the Bitcoin rollover risks lean toward deflation.

According to Bloomberg data, the price of gold was up about 10% year on year as of May 8, 2023, making it one of the top-performing major assets. In comparison, Bitcoin was down almost 20% during the same time period, while the S&P 500 remained relatively steady. This further reflects the present pattern of gold prices rising relative to Bitcoin prices.

Based on Bloomberg’s analysis, there is a correlation between the S&P 500’s peak and trough, its 100-week moving average, and the Bitcoin/gold ratio. Specifically, when the S&P 500 has been trading above its 100-week moving average, the Bitcoin/gold ratio has tended to be relatively high, indicating that Bitcoin is outperforming gold. 

Conversely, when the S&P 500 has been trading below its 100-week moving average, the Bitcoin/gold ratio has tended to be relatively low, indicating that gold is outperforming Bitcoin.

However, it is worth noting that opinions on the future of both gold and Bitcoin can vary widely, and there is no way to predict with certainty how the disparity will evolve in the future. For instance, McGlone had once called Bitcoin the most significant asset in the world, following its performance at the time.

Advertisement

Factors Responsible for the Recent Gold and Bitcoin Disparity

There are various probable explanations for the Gold-Bitcoin discrepancy, including market sentiment, regulation, volatility, environmental concerns, and so on.

Bitcoin is subject to regulatory scrutiny, which can create uncertainty and caution among investors. For example, the recent bank run by US regulators following the collapse of banks such as Signature and Silicon Valley may have created uncertainty and caution among investors. 

In contrast, gold is a well-established asset that is not subject to the same level of regulatory scrutiny. Also, the environmental impact of Bitcoin mining has been called into question, with some investors questioning Bitcoin’s long-term viability as a store of value.

Advertisement

Share
Godfrey Benjamin

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on X, Linkedin

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • 24/7 Cryptocurrency News

FG Nexus to Tokenize Stock on Ethereum as SEC Weighs 24/7 Onchain Stock Trading

FG Nexus has announced that it will allow shareholders to convert common stock into tokenized…

October 2, 2025
  • Bitcoin News

Bitcoin Still Undervalued, JPMorgan Forecasts Rally to $165,000

JPMorgan says Bitcoin (BTC) is undervalued compared to gold and could rise to $165,000, giving…

October 2, 2025
  • 24/7 Cryptocurrency News

Breaking: CME to Launch 24/7 Crypto Futures Trading Amid Rising Institutional Demand

Derivatives exchange CME Group has announced plans to begin offering 247/7  crypto futures and options…

October 2, 2025
  • Bitcoin News

Citigroup Predicts Bitcoin Could Climb to $231,000 in 12 Months

Banking giant Citigroup has revised its Bitcoin prediction to $231,000 in the next 12 months,…

October 2, 2025
  • 24/7 Cryptocurrency News

Ethereum and BMNR Rallies as BitMine Drops $1B on ETH, Analyst Hails “Most Bullish Setup Yet”

The Ethereum price and BMNR stock have recorded modest gains thanks to BitMine’s recent $1…

October 2, 2025
  • 24/7 Cryptocurrency News

ASTER Deposits Flows Into Binance Wallets Following CZ Endorsement, Listing Incoming?

In a fresh development, multiple ASTER tokens have been sent to Binance spot wallets, following…

October 2, 2025