Mike McGlone Sees Bitcoin as "Young Bear" and Targets $50,000 Level in 2026 Outlook

In his 2026 outlook, Bloomberg Intelligence strategist Mike McGlone projects Bitcoin could retreat to the $50,000 area and silver to $50 per troy ounce. He bases this view on mean reversion, geopolitical tensions, a potentially fragile U.S. stock market and a weakening BTC-to-silver ratio around 880, arguing that these factors may signal ongoing vulnerability in both assets.