{"id":140646,"date":"2023-09-01T23:12:32","date_gmt":"2023-09-01T17:42:32","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=140646"},"modified":"2023-09-01T23:12:32","modified_gmt":"2023-09-01T17:42:32","slug":"days-of-big-bitcoin-pumps-are-over-according-to-bloomberg-macro-strategist-heres-why-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/days-of-big-bitcoin-pumps-are-over-according-to-bloomberg-macro-strategist-heres-why-crypto-news\/","title":{"rendered":"Days of \u2018Big Bitcoin Pumps\u2019 Are Over, According to Bloomberg Macro Strategist \u2013 Here\u2019s Why – Crypto News"},"content":{"rendered":"

<\/p>\n

\n

Bloomberg Intelligence senior macro strategist Mike McGlone thinks the time of large Bitcoin (BTC<\/a>) pumps is over.<\/p>\n

McGlone tells<\/a> his 59,400 followers on the social media platform X that Bitcoin\u2019s\u00a0volatility has more room to decline than most traditional assets, which could reduce the top crypto asset\u2019s relative risk.<\/p>\n

\u201cAt about 3x that of gold, my graphic shows Bitcoin\u2019s 90-day volatility still relatively elevated vs. the conventional store of value, but well off the peak from 2018 of around 12x.\u201d<\/em><\/p>\n

Source: Mike McGlone\/X<\/figcaption><\/figure>\n

The analyst argues that Bitcoin is going through a maturation process and a \u201cdeterioration of its nascent vigor.\u201d He also warns<\/a> that BTC could be facing an elongated retracement period.<\/p>\n

\u201cAbout 10% guaranteed return in two years may change everything \u2013 the last time the US Treasury two-year note yielded about 5% was before the financial crisis and birth of Bitcoin, which may portend the headwinds facing most risk assets. My analysis focused on 100-week moving averages shows mostly downward biases, notably vs. the steepest Treasury yield competition in almost two decades.\u201d<\/em><\/p>\n

\"Image\"
Source: Mike McGlone\/X<\/figcaption><\/figure>\n

Bitcoin is trading at $26,109 at time of writing. The top crypto asset by market cap is down 0.11% in the past 24 hours and more than 11% in the past seven days.<\/p>\n

Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>
\n
\nCheck Price Action<\/a><\/span><\/em>
\n
\nFollow us on Twitter<\/a>, Facebook<\/a> and Telegram<\/a><\/span><\/em>
\n
\nSurf The Daily Hodl Mix<\/a><\/span><\/em>
\n<\/p>\n

\n

Check Latest News Headlines<\/span><\/a><\/p>\n

&nbsp<\/p>\n

<\/p>\n

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.<\/h6>\n<\/div>\n

Generated Image: Midjourney<\/em><\/span><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Bloomberg Intelligence senior macro strategist Mike McGlone thinks the time of large Bitcoin (BTC) pumps is over. McGlone tells his 59,400 followers on the social media platform X that Bitcoin\u2019s\u00a0volatility has more room to decline than most traditional assets, which could reduce the top crypto asset\u2019s relative risk. \u201cAt about 3x that of gold, my […]<\/p>\n","protected":false},"author":2,"featured_media":140647,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-140646","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/140646","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=140646"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/140646\/revisions"}],"predecessor-version":[{"id":147263,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/140646\/revisions\/147263"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/140647"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=140646"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=140646"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=140646"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}