The Surprising Relationship Between the McRib Sandwich and Bitcoin's Price

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The Surprising Relationship Between the McRib Sandwich and Bitcoin's Price

Paraphrased Text: A crypto analyst, Zack Voell, has brought attention to an unconventional correlation between the return of McDonald's McRib sandwich and the price of Bitcoin. Voell has observed that the sandwich's reintroduction has often coincided with bullish trends in the cryptocurrency market. Since its debut in 1981, the McRib has gained a devoted following for its tantalizing combination of boneless barbecue pork ribs, onions, and pickles. Despite its intermittent availability on the menu, the sandwich has developed a reputation for its elusive nature. In recent years, McDonald's even bid farewell to the sandwich with a 'farewell tour.' Voell noted that out of the last seven instances of the McRib's return, Bitcoin's price has surged four times. However, there were two instances in 2018 and 2022 when the sandwich's comeback was accompanied by significant downturns in Bitcoin's value. Analyst Nick Maggiullipoint also highlighted that the S&P 500 has experienced a slightly higher average daily return when the McRib sandwich was available. It is worth mentioning that McDonald's typically brings back the McRib towards the end of the year. Currently, Bitcoin is trading at $26,837.77, showing a 0.85% decline in the last 24 hours.

Title: Unveiling the Unusual Link Between the McRib Sandwich and Bitcoin's Price Movements