Mike McGlone

Bloomberg Intelligence

Mike McGlone is a senior commodity strategist at Bloomberg Intelligence and the author of its monthly commodity outlook. A CFA and FRM charterholder with more than 25 years in futures and commodity markets, he covers gold, crypto, and the broader commodity cycle.

Unrated

• 66 Predictions
• 0 Right
• 0 Wrong

Current predictions

• Bitcoin: Mike is bearish on Bitcoin, with no stated time horizon. (updated 2026-11-06) Source: The call from 1Q25 with Bitcoin above $100,000 was for it to lose a zero, on the back of a 20% drawdown in the S&P 500…. Price at prediction: $63,582. -17.3% since initial prediction.
• Bitcoin: Mike is bearish on Bitcoin in the short term. (updated 2026-07-30) Source: Gold To $3,000, Oil To $40, Bitcoin To $10,000: The Deflation Trade Is Here | Mike McGlone. Price at prediction: $64,708. -15.3% since this prediction.
• S&P 500: Mike is bearish on the S&P 500, with no stated time horizon. (updated 2026-11-06) Source: The call from 1Q25 with Bitcoin above $100,000 was for it to lose a zero, on the back of a 20% drawdown in the S&P 500…. Price at prediction: 7,659 points. +0.5% since initial prediction.
• S&P 500: Mike is bearish on the S&P 500 over the long term. (updated 2026-10-08) Source: 'Very Similar To 1987': Here's What Bonds Break Next | Mike McGlone. Price at prediction: 7,766 points. +1.9% since this prediction.
• Diesel: Mike is bearish on diesel in the short term (Sep–Dec 2026) and over the medium term (Oct 2026–Oct 2027). (updated 2026-10-31) Source: Speculators vs. Energy Inflation or Autocorrelation The front heating oil future (HO1) has bumped up near its 2022 high…. Price at prediction: $4.77. +11.8% since this short-term prediction.
• Diesel: Mike is bearish on diesel, with no stated time horizon. (updated 2026-10-22) Source: Bloomberg's Mike McGlone: AI Risk Could Force Bitcoin Drawdown to $10,000. Price at prediction: $4.77. +11.8% since initial prediction.
• Intermediate Treasuries: Mike is bullish on Intermediate Treasuries in the short term (Oct–Dec 2026) and over the medium term (Oct 2026–Oct 2027). (updated 2026-10-31) Source: Mike McGlone: Gold Could Crash Below $3,000 as Stocks Collapse. Price at prediction: $90.43. +0.6% since this short-term prediction.
• Intermediate Treasuries: Mike is bullish on Intermediate Treasuries, with no stated time horizon. (updated 2026-10-25) Source: Next 2 Months Decide Everything - Stock Market Crash Ahead? What Happens to Gold? | Mike McGlone. Price at prediction: $89.45. +1.7% since initial prediction.
• Oil: Mike is bearish on oil in the short term (Oct–Dec 2026) and over the medium term (Oct 2027). (updated 2026-10-30) Source: Why This Looks Worse Than the 1999 Bubble. Price at prediction: $83.65. -3.2% since initial short-term prediction.
• Oil: Mike is bearish on oil, with no stated time horizon. (updated 2026-10-25) Source: Next 2 Months Decide Everything - Stock Market Crash Ahead? What Happens to Gold? | Mike McGlone. Price at prediction: $78.18. -10.4% since initial prediction.
• Gold: Mike is bearish on gold, with no stated time horizon. (updated 2026-10-30) Source: Why This Looks Worse Than the 1999 Bubble. Price at prediction: $4,167. +4.2% since initial prediction.
• Long-Term Treasuries: Mike is bullish on Long-Term Treasuries, with no stated time horizon. (updated 2026-10-17) Source: Mike McGlone: Gold Could Crash Below $3,000 as Stocks Collapse. Price at prediction: $80.56. +0.5% since initial prediction.
• Long-Term Treasuries: Mike is bullish on Long-Term Treasuries in the short term (through 2026). (updated 2026-08-04) Source: Mike McGlone: Gold Isn’t Safe In Upcoming Market Crash. Price at prediction: $82.62. -2.1% since this prediction.
• Silver: Mike is bearish on silver, with no stated time horizon. (updated 2026-10-17) Source: Mike McGlone: Gold Could Crash Below $3,000 as Stocks Collapse. Price at prediction: $59.45. +13.0% since initial prediction.
• Copper: Mike is bearish on copper, with no stated time horizon. (updated 2026-08-20) Source: Peak Copper? The Metal May Join Bitcoin, Gold, Silver, Iron Ore Copper may be nearing a peak, as similar extreme bullis…. Price at prediction: $6.50. +3.6% since initial prediction.

Prediction history

• Bitcoin: 2026-11-06 — Mike is bearish on Bitcoin. (source: The call from 1Q25 with Bitcoin above $100,000 was for it to lose a zero, on the back of a 20% drawdown in the S&P 500…) Price at prediction: $75,666.
• S&P 500: 2026-11-06 — Mike is bearish on the S&P 500. (source: The call from 1Q25 with Bitcoin above $100,000 was for it to lose a zero, on the back of a 20% drawdown in the S&P 500…) Price at prediction: 7,418 points.
• Diesel: 2026-10-31 — Mike is bearish on diesel over the medium term (Oct 2026–Oct 2027). (source: Corn May Have Set an Enduring High Near $5.50 Corn slipped back below its $5-per-bushel threshold after reaching a thre…) Price at prediction: $4.68.
• Intermediate Treasuries: 2026-10-31 — Mike is bullish on Intermediate Treasuries over the medium term (Oct 2026–Oct 2027). (source: Corn May Have Set an Enduring High Near $5.50 Corn slipped back below its $5-per-bushel threshold after reaching a thre…) Price at prediction: $91.75.
• Gold: 2026-10-30 — Mike is bearish on gold. (source: Why This Looks Worse Than the 1999 Bubble) Price at prediction: $4,008.
• Oil: 2026-10-30 — Mike is bearish on oil in the short term (Oct–Dec 2026). (source: Why This Looks Worse Than the 1999 Bubble) Price at prediction: $103.37.
• Bitcoin: 2026-10-30 — Mike is bearish on Bitcoin. (source: Why This Looks Worse Than the 1999 Bubble) Price at prediction: $77,213.
• Gold: 2026-10-28 — Mike is bearish on gold. (source: Mike McGlone: Gold, Silver & Bitcoin Have Peaked? Stock Market Crash Warning!) Price at prediction: $4,059.
• Bitcoin: 2026-10-28 — Mike is bearish on Bitcoin. (source: Mike McGlone: Gold, Silver & Bitcoin Have Peaked? Stock Market Crash Warning!) Price at prediction: $81,216.
• S&P 500: 2026-10-25 — Mike is bearish on the S&P 500. (source: Next 2 Months Decide Everything - Stock Market Crash Ahead? What Happens to Gold? | Mike McGlone) Price at prediction: 7,623 points.
• Gold: 2026-10-25 — Mike is bearish on gold. (source: Next 2 Months Decide Everything - Stock Market Crash Ahead? What Happens to Gold? | Mike McGlone) Price at prediction: $4,008.
• Bitcoin: 2026-10-25 — Mike is bearish on Bitcoin. (source: Next 2 Months Decide Everything - Stock Market Crash Ahead? What Happens to Gold? | Mike McGlone) Price at prediction: $80,547.
• Intermediate Treasuries: 2026-10-25 — Mike is bullish on Intermediate Treasuries. (source: Next 2 Months Decide Everything - Stock Market Crash Ahead? What Happens to Gold? | Mike McGlone) Price at prediction: $91.05.
• Diesel: 2026-10-25 — Mike is bearish on diesel over the medium term (Oct 2027). (source: Next 2 Months Decide Everything - Stock Market Crash Ahead? What Happens to Gold? | Mike McGlone) Price at prediction: $4.79.
• Oil: 2026-10-25 — Mike is bearish on oil. (source: Next 2 Months Decide Everything - Stock Market Crash Ahead? What Happens to Gold? | Mike McGlone) Price at prediction: $103.27.
• Oil: 2026-10-24 — Mike is bearish on oil over the medium term (Oct 2027). (source: 2026 Crude Boom Could Fuel a 2027 Bust The US and Canadian surplus of crude oil and liquid fuels is on track to reach 9…) Price at prediction: $103.27.
• Bitcoin: 2026-10-22 — Mike is bearish on Bitcoin. (source: Bloomberg's Mike McGlone: AI Risk Could Force Bitcoin Drawdown to $10,000) Price at prediction: $81,089.
• Intermediate Treasuries: 2026-10-22 — Mike is bullish on Intermediate Treasuries. (source: Bloomberg's Mike McGlone: AI Risk Could Force Bitcoin Drawdown to $10,000) Price at prediction: $91.32.
• S&P 500: 2026-10-22 — Mike is bearish on the S&P 500. (source: Bloomberg's Mike McGlone: AI Risk Could Force Bitcoin Drawdown to $10,000) Price at prediction: 7,649 points.
• Diesel: 2026-10-22 — Mike is bearish on diesel. (source: Bloomberg's Mike McGlone: AI Risk Could Force Bitcoin Drawdown to $10,000) Price at prediction: $4.74.
• Diesel: 2026-10-22 — Mike is bearish on diesel over the medium term (2027). (source: Mike McGlone Sr. Commodity Strategist @business) Price at prediction: $4.68.
• Intermediate Treasuries: 2026-10-22 — Mike is bullish on Intermediate Treasuries. (source: Mike McGlone Sr. Commodity Strategist @business) Price at prediction: $90.23.
• S&P 500: 2026-10-22 — Mike is mildly bearish on the S&P 500. (source: Mike McGlone Sr. Commodity Strategist @business) Price at prediction: 7,757 points.
• Diesel: 2026-10-19 — Mike is bearish on diesel. (source: Diesel Prices Look Poised to Collapse Surging diesel prices in 4Q are poised to collapse if history is a guide. To stay…) Price at prediction: $4.70.
• Oil: 2026-10-17 — Mike is bearish on oil. (source: Mike McGlone: Gold Could Crash Below $3,000 as Stocks Collapse) Price at prediction: $99.02.
• Bitcoin: 2026-10-17 — Mike is bearish on Bitcoin. (source: Mike McGlone: Gold Could Crash Below $3,000 as Stocks Collapse) Price at prediction: $81,243.
• Long-Term Treasuries: 2026-10-17 — Mike is bullish on Long-Term Treasuries. (source: Mike McGlone: Gold Could Crash Below $3,000 as Stocks Collapse) Price at prediction: $80.04.
• Silver: 2026-10-17 — Mike is bearish on silver. (source: Mike McGlone: Gold Could Crash Below $3,000 as Stocks Collapse) Price at prediction: $57.31.
• S&P 500: 2026-10-17 — Mike is bearish on the S&P 500. (source: Mike McGlone: Gold Could Crash Below $3,000 as Stocks Collapse) Price at prediction: 7,659 points.
• Intermediate Treasuries: 2026-10-17 — Mike is bullish on Intermediate Treasuries in the short term (Oct–Dec 2026). (source: Mike McGlone: Gold Could Crash Below $3,000 as Stocks Collapse) Price at prediction: $90.43.
• Bitcoin: 2026-10-16 — Mike is bearish on Bitcoin. (source: A Bitcoin $10,000 Reversion Path Could Trigger Tumbling Dominoes The first-born crypto led the way up for risk assets s…) Price at prediction: $81,943.
• Oil: 2026-10-08 — Mike is bearish on oil. (source: 'Very Similar To 1987': Here's What Bonds Break Next | Mike McGlone) Price at prediction: $91.18.
• Bitcoin: 2026-10-08 — Mike is bearish on Bitcoin. (source: 'Very Similar To 1987': Here's What Bonds Break Next | Mike McGlone) Price at prediction: $81,626.
• S&P 500: 2026-10-08 — Mike is bearish on the S&P 500 over the long term. (source: 'Very Similar To 1987': Here's What Bonds Break Next | Mike McGlone) Price at prediction: 7,766 points.
• Intermediate Treasuries: 2026-10-08 — Mike is bullish on Intermediate Treasuries. (source: 'Very Similar To 1987': Here's What Bonds Break Next | Mike McGlone) Price at prediction: $89.45.
• Gold: 2026-10-02 — Mike is bearish on gold. (source: Palladium $1,000, Gold $4,000 Key Supports as Risks Tilt Lower - Technical Outlook Palladium in a downtrend and gold in…) Price at prediction: $4,212.
• Oil: 2026-09-30 — Mike is bearish on oil. (source: Deflation Is Coming - And Gold, Bitcoin & Copper Could All Get Hit) Price at prediction: $90.53.
• Bitcoin: 2026-09-30 — Mike is bearish on Bitcoin. (source: Deflation Is Coming - And Gold, Bitcoin & Copper Could All Get Hit) Price at prediction: $83,559.
• Diesel: 2026-09-30 — Mike is bearish on diesel. (source: Deflation Is Coming - And Gold, Bitcoin & Copper Could All Get Hit) Price at prediction: $4.69.
• Bitcoin: 2026-09-23 — Mike is bearish on Bitcoin. (source: Mike McGlone Doubles Down: Bitcoin to $10K? | Proof of Thesis) Price at prediction: $84,006.
• Long-Term Treasuries: 2026-09-23 — Mike is bullish on Long-Term Treasuries. (source: Mike McGlone Doubles Down: Bitcoin to $10K? | Proof of Thesis) Price at prediction: $80.56.
• Oil: 2026-09-22 — Mike is bearish on oil. (source: Crude's Lower-Highs, Lows Path and Plunging US Gas The dichotomy between plunging US natural gas prices and surging cru…) Price at prediction: $90.39.
• Oil: 2026-09-21 — Mike is bearish on oil. (source: Bitcoin PUMPS to $85K as Every ETF Buyer Is Back In Profit) Price at prediction: $94.09.
• Diesel: 2026-09-12 — Mike is bearish on diesel in the short term (Sep–Dec 2026). (source: Speculators vs. Energy Inflation or Autocorrelation The front heating oil future (HO1) has bumped up near its 2022 high…) Price at prediction: $4.77.
• Diesel: 2026-09-12 — Mike is bearish on diesel. (source: US Diesel $3.75 Initial Reversion; What About T-Bonds? Same-chart syndrome between the daily national average diesel pr…) Price at prediction: $4.77.
• Oil: 2026-08-30 — Mike is bearish on oil in the short term (Dec 2026). (source: Inflating Energy, T-Bond Yields vs. Normal Reversion The US government is selling crude oil and buying Treasury bonds,…) Price at prediction: $83.40.
• Bitcoin: 2026-08-29 — Mike is bearish on Bitcoin. (source: Bitcoin's Bear Market vs. the Fed, Stocks Central bank tightening, unlimited crypto competition and increasing dependen…) Price at prediction: $77,585.
• Oil: 2026-08-28 — Mike is bearish on oil in the short term (Aug–Dec 2026). (source: WTI on Track for Highest Year-End Since 2013, But History Warns If WTI crude, at about $83 a barrel on Aug. 27, ends 20…) Price at prediction: $83.07.
• Oil: 2026-08-24 — Mike is bearish on oil. (source: Hedge Funds Buck Trump; Crude, Food Longs Might Face Sell Stops Inflation is a top election issue in the US, the world'…) Price at prediction: $85.22.
• Bitcoin: 2026-08-24 — Mike is bearish on Bitcoin. (source: Flat vs. Beta for About Five Years - Laggard Bitcoin Bitcoin has been a highly correlated, volatile and poor performer…) Price at prediction: $77,541.
• Oil: 2026-08-22 — Mike is bearish on oil in the short term (Aug–Nov 2026). (source: WTI Crude Oil's $55-$80 Cage and Risk vs. Reward The US supply surplus is surging, prices are elevated and petroleum ma…) Price at prediction: $87.06.
• Copper: 2026-08-20 — Mike is bearish on copper. (source: Peak Copper? The Metal May Join Bitcoin, Gold, Silver, Iron Ore Copper may be nearing a peak, as similar extreme bullis…) Price at prediction: $6.45.
• Bitcoin: 2026-08-16 — Mike is bearish on Bitcoin. (source: Faustian Bargain Unwind? Bitcoin Under $69,000 Bitcoin showing comfort below $69,000, despite the record-setting stock…) Price at prediction: $62,994.
• Oil: 2026-08-16 — Mike is bearish on oil in the short term (Aug–Dec 2026). (source: Crude Comfortable Near $70, Risks Swing Toward $50 WTI crude oil's 10- and 20-year mean, median and mode are roughly $7…) Price at prediction: $82.40.
• Bitcoin: 2026-08-13 — Mike is bearish on Bitcoin. (source: Path Toward $10,000 Bitcoin May Come From $69,000 Trump Pivot Bitcoin's almost 30% decline in 2026 through Aug. 12, des…) Price at prediction: $63,582.
• Oil: 2026-08-09 — Mike is bearish on oil. (source: $40 Crude Becoming Normal Due to Bounces Above $100 The US-Iran war and bounce in energy prices may have added fuel to…) Price at prediction: $78.18.
• Copper: 2026-08-04 — Mike is bearish on copper. (source: Mike McGlone: Gold Isn’t Safe In Upcoming Market Crash) Price at prediction: $6.66.
• Long-Term Treasuries: 2026-08-04 — Mike is bullish on Long-Term Treasuries in the short term (through 2026). (source: Mike McGlone: Gold Isn’t Safe In Upcoming Market Crash) Price at prediction: $82.62.
• Gold: 2026-08-04 — Mike is bearish on gold. (source: Mike McGlone: Gold Isn’t Safe In Upcoming Market Crash) Price at prediction: $4,144.
• Oil: 2026-08-04 — Mike is bearish on oil in the short term (through 2026). (source: Mike McGlone: Gold Isn’t Safe In Upcoming Market Crash) Price at prediction: $75.74.
• Gold: 2026-07-30 — Mike is bearish on gold. (source: Gold To $3,000, Oil To $40, Bitcoin To $10,000: The Deflation Trade Is Here | Mike McGlone) Price at prediction: $4,167.
• Copper: 2026-07-30 — Mike is bearish on copper. (source: Gold To $3,000, Oil To $40, Bitcoin To $10,000: The Deflation Trade Is Here | Mike McGlone) Price at prediction: $6.50.
• Oil: 2026-07-30 — Mike is bearish on oil in the short term. (source: Gold To $3,000, Oil To $40, Bitcoin To $10,000: The Deflation Trade Is Here | Mike McGlone) Price at prediction: $84.06.
• Bitcoin: 2026-07-30 — Mike is bearish on Bitcoin in the short term. (source: Gold To $3,000, Oil To $40, Bitcoin To $10,000: The Deflation Trade Is Here | Mike McGlone) Price at prediction: $64,708.
• Oil: 2026-07-30 — Mike is bearish on oil over the medium term. (source: Fed Cuts Are Coming Next and They Mean Recession | Mike McGlone) Price at prediction: $83.65.
• Silver: 2026-07-30 — Mike is bearish on silver. (source: Fed Cuts Are Coming Next and They Mean Recession | Mike McGlone) Price at prediction: $59.45.