Frank Giustra, a prominent Canadian business mogul, has predicted that Bitcoin could potentially face a severe price plunge.
Morning Crypto Report: XRP Kicks Off 2026 With 2,198% Liquidation Imbalance, Tether Stuns With $780 Million Bitcoin Purchase, Meme Coin on Binance Loses 88% After Hacker AttackGiustra’s fundamental concerns align with emerging technical data, which could be interpreted as a rather bad omen for digital assets.
Earlier today, Bloomberg Intelligence Senior Commodity Strategist Mike McGlone noted that Bitcoin is facing a"down year" based on its 50-week moving average.Silver and Bitcoin both face down years in 2026, if 50-week moving averages are guides, but for different reasons. At about $72 an ounce on Dec. 31, the metal's 73% premium to this mean was exceeded only once on a year-end basis, in 1979 . Silver peaked near…This line represents the average price of the asset over the last year. He looks at how far above or below the current price is compared to this average.trades at this specific discount, it is in danger of facing a much deeper drop. He forecasts a"lower trough near a 55% rebate." If McGlone is right and Bitcoin drops from $87,000 down to the"55% rebate" range , the treasury companies would see the value of their holdings plummet. The Bloomberg analyst is also predicting a down year for silver. McGlone compares this to 1980, the famous Hunt Brothers silver bubble. When silver was this"stretched" in 1980, it crashed 52% that same year.
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