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"This Correlation Is Telling Us Exactly What's Coming With Bitcoin" | Mike McGlone

Bitcoin is currently sitting at $40,114.56, which is down 2.3% in the past 7 days, but it’s up from an earlier drop when it hit the $39,000 range. The institutional money from the Bitcoin ETF doesn’t seem to have reflected into Bitcoin’s price action yet, as many have anticipated. Many experts and pundits are waiting patiently for Bitcoin’s price to jump but Investor Mike McGlone has a contrary view on Bitcoin’s price action. In an interview with Verified Investing, McGlone gave his take on why he believes Bitcoin’s price action will continue to drop in the near future. McGlone believes that based on previous data with Gold and the S&P 500, Bitcoin's relationship to each of those important indices shows that unfortunately, Bitcoin’s price will continue to fall before we see it rise again. To watch the full interview:    • Market Mavericks with Gareth Soloway,...   🎥 We own commercial licenses for all the content used in this video except parts about the topic that have been used under fair use and it was fully edited by us. For any concerns, business inquiries, etc. please contact us via email in the “About” section of the channel.