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."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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