PANews reported on December 1st that Mike McGlone, senior commodity strategist at Bloomberg Intelligence, stated on the X platform that Bitcoin may retest $50,000, and the Bitcoin/gold ratio could fall to 13. Extreme market complacency suggests further downside for risk assets, with Bitcoin potentially bearing the brunt. He noted that Bloomberg's economic model shows the Bitcoin/gold ratio was approximately 20 on December 1st, while its fair value should be closer to 13—a key driver of this return to normalcy is that the S&P 500's 120-day volatility is approaching its lowest year-end level since 2017.PANews reported on December 1st that Mike McGlone, senior commodity strategist at Bloomberg Intelligence, stated on the X platform that Bitcoin may retest $50,000, and the Bitcoin/gold ratio could fall to 13. Extreme market complacency suggests further downside for risk assets, with Bitcoin potentially bearing the brunt. He noted that Bloomberg's economic model shows the Bitcoin/gold ratio was approximately 20 on December 1st, while its fair value should be closer to 13—a key driver of this return to normalcy is that the S&P 500's 120-day volatility is approaching its lowest year-end level since 2017.
Bloomberg analyst: Bitcoin may retest $50,000, Bitcoin/gold ratio could fall to 13x.
PANews reported on December 1st that Mike McGlone, senior commodity strategist at Bloomberg Intelligence, stated on the X platform that Bitcoin may retest $50,000, and the Bitcoin/gold ratio could fall to 13. Extreme market complacency suggests further downside for risk assets, with Bitcoin potentially bearing the brunt. He noted that Bloomberg's economic model shows the Bitcoin/gold ratio was approximately 20 on December 1st, while its fair value should be closer to 13—a key driver of this return to normalcy is that the S&P 500's 120-day volatility is approaching its lowest year-end level since 2017.
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