In a recent forecast, Fidelity’s Jurrien Timmer suggested that both Bitcoin and gold might experience a significant pause in 2026. Despite his ongoing enthusiasm for both assets, he indicated a potential temporary retreat for them before they could reclaim their prominence on the investment stage. Timmer highlighted a chart that suggests gold may be entering a new super cycle relative to equities.
Historically, gold has exhibited resilience, and Timmer’s previous predictions noted that the yellow metal might hand off its leading status to Bitcoin in the latter half of 2025. However, events unfolded differently as gold maintained its dominance, particularly in a year characterized by remarkable gains, boasting approximately a 70% increase and achieving a record high of $4,550, thanks to a confluence of factors. These include escalating geopolitical tensions, a widely anticipated dovish shift from the Federal Reserve, and central banks redistributing reserves away from U.S. Treasuries.
Conversely, Bitcoin faced a challenging year, on track to record its second-worst fourth quarter ever, with a decline of nearly 7% so far. Timmer recently described Bitcoin as “the lone loser” among major assets, stating that the ongoing bull market appears to have reached its zenith. He dismissed the notion that established four-year cycles might be coming to an end.
While gold and the S&P 500 have been setting new record highs, Bitcoin has struggled to keep pace, raising concerns for its advocates about potential further declines. Analysts have noted that the cryptocurrency is developing a bearish pattern on its weekly chart, casting a shadow over its short-term prospects.
