Bloomberg Analyst: All Asset Classes May See Downturn Next Year, Bitcoin Could Fall to $50,000

BlockBeats News, December 29, Bloomberg Intelligence's Senior Commodity Strategist Mike McGlone warned in a post that the price of Bitcoin will fall to $50,000 in 2026, and may even drop another 90% to $10,000.

Mike McGlone said, "Bitcoin was the first cryptocurrency in 2009. But now it has millions of digital asset competitors. In contrast, gold only has three competitors—silver, platinum, and palladium. He predicted that by 2026, the price of this key precious metal will rise another 10%, trading above $5,000 per ounce."

Mike McGlone said that 2026 will be a bad year for all asset classes. The rise in the price of gold relative to other assets "may portend a pullback in the US stock market in 2026, with crude oil, copper, silver, and all risk assets facing headwinds."