Bloomberg’s Legendary Analyst Mike McGlone Shares New Bitcoin Forecast: “Keep an Eye on $75,000 This Year”

Bloomberg analyst Mike McGlone has published a noteworthy assessment of Bitcoin’s performance against traditional markets.

The analysis noted that the S&P 500 and Bitcoin have exhibited similar performance since 2021, but Bitcoin’s annual volatility has been approximately three times higher. According to the analyst, this is interpreted as a signal that the “golden age” of crypto assets may be over.

McGlone stated that the ratio between Bitcoin and the S&P 500 (Bitcoin/SPX) is currently around 11x. According to the analyst, this ratio could surpass the 14x level seen after the launch of US spot Bitcoin ETFs in the first quarter of 2024, indicating that Bitcoin’s strongest performance periods are not yet behind us.

On the other hand, the analyst stated that despite the increase in the US money supply over the past five years and the market capitalization reaching 2.4x GDP, one of the highest levels since 1928, Bitcoin has not benefited sufficiently from this growth. This indicates that Bitcoin is now more subject to fundamental economic rules and may be negatively impacted by increasing competition in the market.

McGlone also stated that around $75,000 is a critical threshold for Bitcoin in 2026. According to the analyst, especially in a scenario where US stock markets don’t hit new records, Bitcoin remaining above this level could be decisive for market sentiment.

*This is not investment advice.