Dogecoin Faces 1929-Style Reckoning, Bloomberg’s McGlone Warns

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Dogecoin Faces 1929-Style Reckoning, Bloomberg’s McGlone Warns - NewsBTC

Quick Summary:

McGlone’s conclusion is that continued pressure on equity markets, combined with global bond rates that sit well below US yields, could accelerate a rotation into gold if investors perceive a downturn in "expensive” asset classes, including risk assets like Dogecoin.

"Dogecoin, 1929, 1999 Risk-Asset Silliness and Gold – The ratio of gold ounces equal to Bitcoin trading almost tick-for-tick with Dogecoin may show the risks of reversion in highly speculative digital assets, with deflationary implications underpinning the metal,” he wrote.

Dogecoin Mirrors 1929-Style Risk He singled out Dogecoin in particular, emphasizing its vulnerability to a potential market reversion, while also pointing to gold as a beneficiary if risk appetite continues to deteriorate.