Bloomberg analyst Mike McGlone has forecasted declines for both silver and Bitcoin in 2026, using the 50-week moving average as a reference point. McGlone highlighted that silver, priced at approximately $72 per ounce on December 31st, is trading at a 73% premium over its 50-week moving average, a level only seen once before in 1979. Historically, silver prices peaked near $50 in 1980 before plummeting 52% to $15.50. In contrast, Bitcoin is currently priced at around $87,000, representing a 13% discount to its 50-week moving average. This discount suggests a potential bottoming out, with McGlone indicating a possible further decline of nearly 55%. The analysis suggests differing trajectories for these assets based on historical price movements and current market conditions.
Bloomberg Analyst Predicts Decline for Silver and Bitcoin in 2026
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