The Intriguing Link Between Bitcoin and the Stock Market

Is There a Connection Between McRib, Bitcoin, and Stocks?

Some people jokingly argue that there may be a connection between McRib, bitcoin, and stocks, although there is no evidence of a causal relationship. The popular McRib sandwich is scheduled for a limited-time comeback in November, which has become an annual tradition for McDonald’s.

The Scarcity Tactic in Marketing

The scarcity tactic is commonly used in marketing to create urgency and increase demand. Limited-time offers or products that are exclusive or available in limited quantities can attract more customers and boost profits. The McRib sandwich is a prime example of this strategy, with over 60 million sold in three years despite being marketed as a limited item.

The Memes and Observations

While there is likely no real connection between McRib, bitcoin, and stocks, crypto enthusiasts have made memes and observations about the coincidental timing of these events. For example, in 2022, the S&P 500 saw slightly higher average daily returns when the McRib was on the menu.

Bitcoin’s Price During McRib Comebacks

Examining Bitcoin’s price during past McRib comebacks reveals some interesting patterns:

In November 2022, Bitcoin’s price dropped from around $20,000 to $16,000.
In November 2021, Bitcoin’s highest price was $68,573 compared to October’s $67,120.
In December 2020, Bitcoin rose from nearly $20,000 to $28,885 by the end of the year.
In October 2019, Bitcoin dropped from around $10,800 to the $7,000 level.
In October 2018, Bitcoin experienced a brief spike from $7,381 to $7,083.
In November 2017, Bitcoin climbed from $6,370 to $10,400.
In November 2016, Bitcoin increased from $715 to $750.
In September 2015, Bitcoin’s price dropped from $284 to $244.
In November 2014, Bitcoin reached a high of $418 compared to October’s high of $399.

Hot Take: BTC Price Rise and McRib Comebacks

While the timing of Bitcoin’s price fluctuations occasionally coincides with McRib comebacks, it appears to be more of a coincidence rather than a direct influence. The rise of Bitcoin continues regardless of these events. So, enjoy your McRib and keep an eye on the crypto market!