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

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

Mike McGlone stated, "Bitcoin was the first cryptocurrency in 2009. But now it has millions of digital asset rivals. In contrast, gold has only three competitors — silver, platinum, and palladium. He predicts 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 surge in the price of gold relative to other assets "may signal a pullback in the U.S. stock market in 2026, with crude oil, copper, silver, and all risk assets facing headwinds."