Mike McGlone, Bloomberg’s Senior Commodity Strategist, perhaps best known for accurately forecasting gold’s strength in 2025, greeted the new year with a new set of market predictions.
Echoing the views of several other prominent voices in finance – notably of Robert Kiyosaki – McGlone opined on January 1 that 2026 will be a year of volatility and crisis but also one of opportunity for the ‘tactically orientated’ to make a fortune.
Will the Great Depression 2.0 start in 2026?
Though measured in tone, the Commodity Strategist hinted he expects 2026 to be a crisis year by providing a historical parallel. Specifically, he opined that President Donald Trump shall suffer from poor timing, much like President Herbert Hoover.
Hoover famously entered the Oval Office in 1929, mere months before the Great Depression started.
McGlone provided both evidence for his assumptions and issued several stark predictions. Specifically, he identified gold’s grabbing of alpha – its ability to outperform the market – as a major warning sign evident through much of 2025.
Gold grabbing alpha in 2025 was a warning – especially vs. falling crude oil
Unfortunately for investors hoping to benefit from the precious metals boom, the market expert also opined that gold, silver, and most similar assets will suffer from, in his words, ‘went up-too-much’ dangers in 2026.
Similarly, McGlone identified T-Bonds – the debt securities of the American government – as the stars of the market, as he estimates they will be the ones to ‘take alpha’ from the yellow metal in the ongoing year.
Will the crypto market bloom in 2026?
Mike McGlone simultaneously gave a word of warning to cryptocurrency investors as he forecasted that a Bitcoin (BTC) fall to $50,000 is more likely than a rally back to $100,000.
As evidence, he cited that Bloomberg’s Galaxy Crypto Index – an index designed to serve as a benchmark for the digital assets market – dropped 19% last year.
Bitcoin and cryptos have peaked, $50,000 more likely than above $100,000. Cryptos to lead the next post-inflation deflation cycle due to wealth creation reversion. The Bloomberg Galaxy Crypto Index dropped 19% in 2025.
External evidence that the cryptocurrency bull market can be found in the fact that the 4-year BTC cycle pattern has been broken. Historically, Bitcoin has tended to enjoy three green years followed by a major correction.
Considering that the world’s premier cryptocurrency rocketed to unprecedented highs near $125,000 in 2025 only to end the year approximately 8% in the red, a continued retreat appears probable, though not guaranteed.
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