Bloomberg analyst: Bitcoin may pull back to $50,000, Bitcoin/gold ratio is overvalued.

NullWhisperer

2025-12-01 12:16:18

Abstract generation in progress

[Chain News] Bloomberg's senior commodity strategist Mike McGlone recently shared an interesting point of view - he believes that Bitcoin may pull back to around 50,000 USD.

The more crucial aspect is the ratio of Bitcoin to gold. Currently, this ratio is about 20 times, but according to their economic model, a reasonable level should be around 13 times. In other words, Bitcoin may be overvalued relative to gold.

His logic is as follows: The 120-day volatility of the S&P 500 index is approaching the lowest year-end level since 2017, and this extreme market complacency often signals risk. Once market sentiment shifts, risk assets will be impacted first, and Bitcoin, as a highly volatile asset, may suffer the most.

Of course, this is just one opinion. The market is always filled with uncertainties, and everyone still has to make judgments based on their own risk tolerance.

BTC0.11%

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RooftopVIP

· 20h ago

Here comes the bearish sentiment again, this guy McGlone really relies on being pessimistic to make a living. 50,000 bucks? You think BTC is too fragile. Low volatility means danger? This logic is a bit hard to hold up. What's wrong with Bitcoin being 20 times gold, why must it be 13 times? After all, it's still the same old story, risk asset collapse theory, I’m tired of hearing it, brother. This time is different, stop always thinking about the 2017 story. Let’s just treat McGlone's predictions as entertainment.

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PonziDetector

· 20h ago

Pullback to 50,000? That's just nonsense... The last time I heard this was around this time last year. --- Another bearish view... A Bloomberg analyst said this, I bet 5 bucks they've already bought the dip. --- 13 times reasonable? Who calculated that, can the model eat? --- Damn, lowest volatility = maximum risk? I don't understand this logic. --- Let it fall first, anyway I don't have short positions haha.

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BoredWatcher

· 20h ago

Here we go again with the bearish outlook? I've heard McGlone's spiel too many times, the pullback to 50,000 has been talked about endlessly. Bloomberg has also faced losses before, if the model worked well, they would have made a fortune by now. That 13 times ratio... why not mention Bitcoin's own scarcity? What innovation does gold have? Low volatility = impending disaster? This logic seems a bit... forced. Anyway, I’m not selling and I’m betting that they’re all bearish. I just want to know, what will they say if this pullback doesn’t happen? Wait, if it’s at 50,000, how much do I need for margin replenishment?

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