Bloomberg Analyst: Bitcoin/Gold Ratio May Fall to Around 13x, Price to Retreat and Test $50,000

BlockBeats News, December 1st, Bloomberg Intelligence Senior Commodity Strategist Mike McGlone posted on social media stating that Bitcoin may retest $50,000, and the Bitcoin/Gold ratio may fall to 13x. The market's extreme complacency suggests that risk assets may see further downside, with Bitcoin potentially being the hardest hit.

Mike McGlone stated that the Bloomberg economic model shows the Bitcoin-to-Gold ratio was around 20x on December 1st, while its fair value should be close to 13x. The key driver pushing this ratio back is the S&P 500 Index's 120-day volatility nearing its lowest year-end level since 2017.