Bloomberg analyst: Still expects bitcoin to drop to $50,000, advises caution when shorting if a rebound approaches $100,000
BlockBeats News, February 2, Bloomberg Intelligence Senior Commodity Strategist Mike McGlone stated that there may be a key variable in the process of silver and bitcoin returning to $50 per ounce and $50,000 respectively—a moderate rebound in stock market volatility. Before volatility returns to normal, establishing new long positions in risk assets may not be wise, especially considering the unpredictability of President Trump's policies. If silver breaks above $100 or bitcoin approaches $100,000, taking cautious short positions may be a reasonable choice.
It is reported that Mike McGlone's bearish stance on bitcoin becomes particularly apparent and persistent from the end of 2025 to early 2026. Around November 2025, he began publicly predicting that bitcoin could fall to $50,000 in 2026 (a drop of about 60% from its then peak).
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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