2024

Gold

<ul> 
 <li>Bloomberg Intelligence’s Mike McGlone suggests gold might outperform Bitcoin and the S&amp;P 500 in 2024.</li> 
 <li>Despite recent highs for both assets, McGlone cites macroeconomic risks favoring gold.</li> 
 <li>“Some normal reversion in beta could be a key test…” McGlone highlights the competitive edge gold might have.</li> 
</ul> 
<p><strong>As the global economy faces uncertainty, the tight race between gold and Bitcoin sparks debates among investors, with Bloomberg’s McGlone hinting at gold’s potential to lead in 2024.</strong></p> 
<h2 id="strong-economic-volatility-and-asset-performance-strong"><strong>Economic Volatility and Asset Performance</strong></h2> 
<p>Within the first quarter of 2024, gold, Bitcoin, and the S&amp;P 500 Index have all experienced unprecedented highs. Gold surged to $2,171, while Bitcoin achieved a new historic peak of $69,200, currently adjusting to $67,750. This volatility-adjusted competition places gold in a favorable position to win the performance medal, according to McGlone, especially given the top macroeconomic risks of 2024.</p> 
<h3 id="strong-the-altcoin-momentum-strong"><strong>The Altcoin Momentum</strong></h3> 
<p>McGlone’s analysis extends beyond the gold and Bitcoin rivalry, suggesting that the current market dynamics may also propel altcoins. The downturn in both gold and Bitcoin’s dominance could create a unique opportunity for alternative cryptocurrencies to gain market traction, potentially altering the landscape of investment strategies in the digital age.</p> 
<h2 id="strong-investor-sentiment-and-market-dynamics-strong"><strong>Investor Sentiment and Market Dynamics</strong></h2> 
<p>A week prior to his prediction about gold’s performance, McGlone speculated that a Bitcoin rally to $70,000 could undermine gold’s value in investment portfolios. This statement came amidst China’s accelerated gold accumulation and a noticeable shift of funds from gold-based exchange-traded funds (ETFs) to spot Bitcoin ETFs, marking a significant turn in investor sentiment since the latter’s approval by the Securities and Exchange Commission in early January.</p> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <p lang="en" dir="ltr">[COINOTAG NEWS]</p> 
 <p>1 BITCOIN &gt; $70,000</p> 
 <p>This news published on COINOTAG PRO 10 seconds ago.</p> 
 <p>— COINOTAG NEWS (@coinotagen) <a href="https://twitter.com/coinotagen/status/1766124844804956428?ref_src=twsrc%5Etfw">March 8, 2024</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<h3 id="strong-the-perspective-of-robert-kiyosaki-strong"><strong>The Perspective of Robert Kiyosaki</strong></h3> 
<p>In contrast to McGlone’s cautious stance, finance guru Robert Kiyosaki has set his sights on a bullish Bitcoin, predicting a climb to $300,000 in 2024. Kiyosaki’s optimism is partly fueled by the anticipated Bitcoin halving event, expected to drastically reduce the daily minting of Bitcoin and potentially skyrocket its value. This perspective highlights the diverse opinions and speculations swirling around the future of cryptocurrencies and traditional safe-haven assets like gold.</p> 
<h3 id="strong-conclusion-strong"><strong>Conclusion</strong></h3> 
<p>The debate between gold and Bitcoin’s supremacy as the preferable investment in 2024 illuminates the broader economic uncertainties and the shifting paradigms of asset valuation. While Bloomberg’s McGlone leans towards gold’s resilience amidst macroeconomic risks, contrasting views like Kiyosaki’s bullish Bitcoin prediction underscore the speculative and volatile nature of today’s financial markets. Investors are thus advised to navigate these turbulent waters with a balanced perspective, weighing the potential risks and returns of their asset choices.</p> 
<div class="code-block-grte code-block-grte-2" style="margin: 8px 8px 8px 0; float: left;"> 
 <table style="width: 100%; border-collapse: collapse;"> 
  <tbody> 
   <tr> 
    <td style="width: 100%; text-align: left; background-color: #f2f2f2; padding: 10px;"> <a href="https://t.me/coinotagpro_bot/" target="_blank" rel="noopener"> <strong> <span style="color: #000000;">CLICK TO HERE TO JOIN</span> <span style="color: #e67e22;">OINOTAG PRO + COPY TRADE BASED ON NEWS TRADING</span> </strong> </a> </td> 
   </tr> 
  </tbody> 
 </table> 
</div>  
<p>The post <a rel="nofollow" href="https://en.coinotag.com/gold-vs-bitcoin-bloombergs-mike-mcglone-predicts-metal-may-outshine-crypto-in-2024-amidst-economic-risks/">Gold vs. Bitcoin: Bloomberg’s Mike McGlone Predicts Metal May Outshine Crypto in 2024 Amidst Economic Risks</a> appeared first on <a rel="nofollow" href="https://en.coinotag.com">COINOTAG NEWS</a>.</p>

Gold vs. Bitcoin: Bloomberg’s Mike McGlone Predicts Metal May Outshine Crypto in 2024 Amidst Economic Risks

Table of Contents

COINOTAG NEWS

Other articles published on Mar 8, 2024

Zircuit Staking Program Breaks $500M TVL And Adds Ethena Integration

Your Guide to Reporting and Recovering Funds 2024

Fidelity’s FBTC Bitcoin ETF Soars with Record $473 Million Daily Inflow

Tesla’s surprise Bitcoin boost sparks speculation and future market impacts

'Dogecoin Killer' Shiba Inu Gears Up For A 'Potential Rebound': Transactions Surpass 400M, Shiba ...

3 cryptocurrencies under $1 to buy for next week

Join our free newsletter for daily crypto updates!