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In a recent statement, Bloomberg analyst Mike McGlone compared the potential performance of gold and Bitcoin against a possible recession in the USA in 2024.
According to the analyst, the Bitcoin-gold cross rate, which is the value of Bitcoin divided by the price per ounce of gold, appears to be receiving support from the rising stock market. According to McGlone, this could be a typical decline in risky assets during recessions.
According to McGlone, there is a close relationship between the Bitcoin-gold cross rate and the S&amp;P 500. The 100-week correlation between this cross rate and the stock index is near its highest level ever at approximately 0.32.
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BTC's 260-day volatility is 2.3 times that of the S&amp;P 500 and has been on the rise since the end of 2020. At that time, the correlation between the Bitcoin/gold cross rate and the stock index was negative. But if the US can avoid the recession expected by Bloomberg Economics in 2024 and the S&amp;P 500 does not fall, Bitcoin is poised to continue outperforming gold, according to the analyst.
However, McGlone still notes that high-volatility assets are typically fragile as growth contracts. That's why gold's relative risk is lower than most stocks, giving gold a potential edge in a recession scenario, according to the analyst.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/if-the-us-recession-hits-in-2024-will-gold-or-bitcoin-benefit-senior-bloomberg-analyst-comments/" rel="noopener noreferrer nofollow">If the US Recession Hits in 2024, Will Gold or Bitcoin Benefit? Senior Bloomberg Analyst Comments</a>

If the US Recession Hits in 2024, Will Gold or Bitcoin Benefit? Senior Bloomberg Analyst Comments

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