Bloomberg Strategist: Trump's recent policies have prompted investors to turn to gold, and Bitcoin may continue to perform poorly
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Planet Daily News: Bloomberg senior commodities strategist Mike McGlone posted on X platform, stating that Trump's recent policies are driving investors towards safer assets like gold, and Bitcoin may continue to perform poorly. He believes risk assets are showing signs of returning to their long-term mean, primarily through their 200-week moving average, which historically has served as a critical baseline during major price adjustments. As of April 20, the 200-week moving average price level for Bitcoin is around $46,300, which represents approximately a 45% price difference compared to the current price level of around $85,000.
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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