McDonald's McRib Returns — Is A Bitcoin Rally In The Cards?
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below.
The McRib is back on McDonald’s (NYSE:MCD) menus across the U.S. and it is not only lovers of the unique sandwich that are excited.
"The legendary McRib" returned to most U.S. McDonald’s outlets on Nov. 11, Senior Marketing Director Guillaume Huin announced, sparking excitement among ... bitcoiners.
"Chat, did McDonalds just save the market?" cryptocurrency wallet provider Trust wallet said.
Don't Miss:
-
The AI Marketing Platform Backed by Insiders from Google, Meta, and Amazon — Invest at $0.81/Share Before Nov. 20
-
7 Million Gamers Already Trust Gameflip With Their Digital Assets — Now You Can Own a Stake in the Platform
Matrica Labs Head of Growth Zach Zelle said "Bull Run has officially started boys."
"So basically you're saying that the McRib will send Bitcoin back to ATH," content creator Ashley Duncan said.
Bitcoin was most recently trading at $91,000, down over 20% from its record price of $126,000 reached last month. The asset has been subdued in the wake of a record $19 billion liquidation event that rocked the cryptocurrency market shortly after it clinched its new price record.
However, bitcoiners are optimistic as, over the past few years, the seasonally released sandwich has become linked to mouth-watering Bitcoin rallies.
Trending: Buffett's Secret to Wealth? Private Real Estate—Get Institutional Access Yourself
When the McRib returned in October 2017, Bitcoin kicked off a rally from roughly $4,000 to $20,000. In 2020, the return of the sandwich coincided with the beginning of a bull run that extended into late 2021. It also reappeared days before Bitcoin hit its $69,000 peak in that bull cycle. The asset also broke above $100,000 for the first time shortly after the sandwich reappeared in December 2024.
However, the correlation between the McRib and Bitcoin has not always held up. In 2022, for example, the sandwich’s return preceded a sharp decline in the asset’s value to nearly $15,000, as FTX‘s collapse compounded an already tough bear market.
See Also: Wall Street's $12B Real Estate Manager Is Opening Its Doors to Individual Investors — Without the Crowdfunding Middlemen
This year, the McRib returns as the U.S. government looks set to reopen after a record shutdown. The end of the shutdown is expected to be positive for cryptocurrency prices as work would resume on pending exchange-traded fund applications and pending cryptocurrency market structure legislation.
Content Original Link:
" target="_blank">
