On January 2, PANews reported that Bloomberg analyst Mike McGlone stated on the X platform that both silver and Bitcoin are expected to face price declines by 2026 based on the 50-week moving average, but for different reasons. On December 31, the price of silver was approximately $72 per ounce, a 73% premium over its 50-week moving average. This kind of year-end price was only seen once before, in 1979. In 1980, the price of silver peaked near $50 before falling 52% to $15.50. It wasn't until 2025 that the year-end closing price of silver again exceeded the $32.20 level recorded in 1979. In contrast to the high price of silver, Bitcoin is currently in a bear market. The price of Bitcoin is currently around $87,000, a 13% discount to its 50-week moving average, which typically signals a price bottom and a potential decline of nearly 55%.
Bloomberg Analyst: Silver and Bitcoin May Decline in 2026 Based on 50-Week Moving Average
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Summary
Bloomberg analyst Mike McGlone noted on X that silver and bitcoin may decline in 2026 based on moving averages. Silver is trading at $72, a 73% premium to its 50-week moving average, a level last seen in 1979. Bitcoin, at $87,000, is 13% below its 50-week average, a pattern historically associated with a 55% drop. On-chain data indicates that both assets are at key inflection points.
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