According to DL News, Bloomberg Intelligence strategist Mike McGlone warned that Bitcoin’s price could fall 90% to $10,000 by 2026 due to increasing competition from millions of digital assets. In contrast, he expects gold to rise to over $5,000 an ounce in the same period. Bitcoin is currently trading 30% below its October all-time high of $126,000, with investors offloading holdings as exchange-traded funds recorded $1 billion in selloffs in December. McGlone also predicted a broader market downturn in 2026, affecting stocks, crude oil, and other risk assets. However, other analysts like Ed Yardeni and Arthur Hayes remain bullish, forecasting strong market gains and a potential $200,000 Bitcoin price by March 2026.
Bloomberg Analyst Predicts Bitcoin Could Drop to $10,000 by 2026 Amid Market Competition
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Summary
Bitcoin news: Bloomberg strategist Mike McGlone warned Bitcoin could drop to $10,000 by 2026 due to competition from millions of digital assets. Altcoins to watch may gain traction as investors shift focus. Gold, however, is expected to rise above $5,000 an ounce. Bitcoin is now 30% below its October peak, with ETFs seeing $1 billion in selloffs in December. McGlone also sees a broader market downturn in 2026, though some analysts remain bullish on Bitcoin hitting $200,000.
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