Bloomberg’s Legendary Analyst Mike McGlone Reveals the Level He Expects Bitcoin to Reach by 2026

Bloomberg analysts have warned that a widespread downturn in global financial markets could occur in 2026.

Bloomberg Intelligence Senior Commodities Strategist Mike McGlone stated that the price of Bitcoin could fall to $50,000 in 2026, and in a negative scenario, a further decline of up to 90% could even bring it down to $10,000.

According to McGlone, although Bitcoin was the first cryptocurrency to emerge in 2009, it now competes with millions of other digital assets. McGlone argues that this weakens Bitcoin’s long-term value dynamics, and he made a striking comparison with gold. He stated that gold has only three main competitors: silver, platinum, and palladium.

According to a Bloomberg analyst, 2026 could present a relatively positive picture for gold. McGlone claims that gold prices could rise by approximately 10 percent by 2026, exceeding $5,000 per ounce.

On the other hand, McGlone believes that 2026 will be a difficult year for all asset classes in general. He notes that the strong performance of gold prices compared to other assets could signal a possible correction in the US stock market, and argues that oil, copper, silver, and other risky assets could also face significant pressure.

*This is not investment advice.