Bloomberg analyst: The Bitcoin/gold ratio may eventually drop to around 13 times, with the coin price retreating to 50,000 USD

Senior Commodity Strategist at Bloomberg Intelligence, Mike McGlone, stated on social media that Bitcoin may retrace to $50,000, and the Bitcoin/gold ratio could eventually drop to 13 times. The extreme complacency in the market suggests that risk assets may decline further, with Bitcoin likely to be the first to suffer.

Mike McGlone indicated that Bloomberg's economic model shows the Bitcoin to gold ratio is currently around 20 times, while its fair value should be close to 13 times— the key driver for the ratio's return is that the 120-day volatility of the S&P 500 index is approaching its lowest year-end level since 2017.