Bloomberg Analyst Mike McGlone Announces New Bitcoin (BTC) Price Prediction!
Bitcoin (BTC) started the new week with a recovery as expectations for a Fed interest rate cut for December increased.
Bitcoin, which fell to as low as $80,000 on Friday, rose above $86,000 today. However, this decline may be temporary, as some analysts have suggested that Bitcoin could correct to around $50,000 next year.
Bloomberg Intelligence’s senior commodity strategist Mike McGlone said on LinkedIn that Bitcoin’s price could fall 60% from its record high of $126,000 next year.
At this point, McGlone predicted that Bitcoin could face additional downward pressure next year due to macro uncertainty and rising risk-on asset sentiment, with the price falling to as low as $50,000.
“Is Bitcoin $50,000 or $150,000 in 2026?
My guess is $50,000, especially if the S&P 500 experiences its third year of decline since 2008.
The analyst also added that there is a widespread view in the market that Bitcoin’s direction will be redetermined by the year-end FOMC meeting and movements in the stock market.
*This is not investment advice.