Bloomberg Strategist Predicts Tough Year for Cryptocurrencies

Mike McGlone, a leading strategist at Bloomberg Intelligence, has predicted that cryptocurrencies will likely be the worst-performing asset class in 2025. This projection has raised substantial interest in the financial and crypto communities.

Known for his data-driven approach, McGlone has highlighted the expected underperformance of crypto assets due to market volatility and economic uncertainties, expressed through various media channels and recent interviews.

Crypto markets are experiencing heightened volatility, with McGlone pointing out that such instability serves as a red flag for investors. He noted that cryptocurrencies mirror equity markets but carry significantly higher risks.

This volatility has resulted in a shift in investment towards more stable assets like gold and U.S. Treasuries, especially as job data weaknesses magnify broader market concerns, further influencing risk assessments.

Historical trends highlight similar crises where risk assets suffered considerable drawdowns. The 2008 and 2020 financial environments offer a basis for current market concerns, according to McGlone.

Speculative tokens might see significant losses, with institutional and retail traders moving capital into safer territories. McGlone’s expectation for Bitcoin to eventually fall to $10,000 remains, despite recent peak prices.

“The Bloomberg Galaxy Crypto Index (BGCI) is roughly flat year-to-date, mirroring the performance of the S&P 500. Given crypto’s higher volatility, this stagnation is being seen not as a sign of resilience, but as a red flag.” — Mike McGlone, Senior Commodity Strategist, Bloomberg Intelligence