Bitcoin Breaks $100,000 As McDonald’s Brings Back The McRib: Buy Signal Or Spurious Correlation?
Posted On December 5, 2024
Bitcoin‘s (CRYPTO: BTC) surge past $100,000 on Thursday coincided with McDonald‘s (NYSE:MCD) reintroduction of its fan-favorite McRib sandwich, reviving a pattern observed in previous years.
What Happened: According to crypto analyst internbrah, Bitcoin has historically doubled in price following the McRib’s return.
In a tweet accompanied by a chart, internbrah stated, “The McRib is back. BTC historically goes up >2x after the McRib returns. Don’t fade the McRib.”
The chart he attached illustrates a compelling correlation: …
About The Author
