Bloomberg Analyst: Bitcoin ETF May Follow Gold’s Volatile Path with Sharp Rallies and Painful Pullbacks

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Bloomberg ETF analyst Eric Balchunas said a Bitcoin ETF could follow gold’s volatile path, with sharp rallies and painful pullbacks. He noted both assets are non-yielding and sentiment-driven, leading to surges or stagnation. ETF inflows and outflows would likely reflect this pattern, with sharp gains followed by corrections. Balchunas warned the road to recovery could test investor patience.

BlockBeats news, on July 17, Bloomberg ETF analyst Eric Balchunas said that Bitcoin ETFs are likely to follow a similar trajectory to gold, experiencing a "stunning rally" followed by a "painful pullback," testing investors' patience.

Balchunas noted that both gold and bitcoin are non-yielding stores of value that generate no cash flow. Demand driven by market sentiment can lead to either "price surges" or prolonged stagnation. Therefore, bitcoin ETFs may follow the same script: remarkable gains, painful drawdowns, and a recovery that could test investors' patience.

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