Bloomberg Analyst: All Asset Classes May Decline Next Year, Bitcoin Could Drop to $50,000
BlockBeats News, December 29, Bloomberg Intelligence Senior Commodity Strategist Mike McGlone issued a warning that the price of bitcoin will drop to $50,000 in 2026, and could even fall by another 90% to $10,000.
Mike McGlone stated, "Bitcoin was the first cryptocurrency in 2009. But now it faces millions of digital asset competitors. In contrast, gold has only three competitors—silver, platinum, and palladium. He predicts that by 2026, the price of this major 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 gold prices relative to other assets "may indicate that the US stock market will see a correction in 2026, and crude oil, copper, silver, and all risk assets will face 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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