Fidelity’s Macro Guru Turns Bearish on Bitcoin

Fidelity’s Jurrien Timmer has predicted that both Bitcoin and gold could take a year off in 2026. 

“As for the 40, I continue to be a superfan of gold and Bitcoin, but I suspect that both of them may take a year off before potentially dominating the scene once again,” he said in a recent social media post. 

Gold trouncing Bitcoin 

As reported by U.Today, Timmer predicted that gold could pass the baton to Bitcoin in the second half of 2025. However, his prediction did not materialize, and the yellow metal kept trumping the digital upstart through the remainder of the year. 

Gold has had its best year since 1979, rallying by roughly 70%. In fact, it hit a fresh record high of $4,550 earlier today.  The rally has been fueled by a “perfect storm” of geopolitical tensions, the anticipation of the Federal Reserve’s much-awaited dovish pivot, as well as central banks moving reserves out of US Treasuries.

Meanwhile, Bitcoin is about to record its second-worst Q4 ever. The cryptocurrency is now down by close to 7% this year. 

“The lone loser” 

Earlier this month, Fidelity’s macro guru described Bitcoin as the lone loser among the top assets. He also argued that the current bull market had already peaked, rejecting the idea that four-year cycles are already over 

While gold and the S&P keep hitting new record highs, the leading cryptocurrency keeps underperforming.    

Unfortunately for the bulls, things could only get worse for them in the near future. As reported by U.Today, the cryptocurrency is developing an “ominous” bearish pattern on its one-week chart.