Bloomberg analyst: After a Bitcoin “copycat” gold ETF is launched, the price action goes through “painful pullbacks” and “a recovery that tests patience”

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BlockBeats message, July 17, Bloomberg ETF analyst Eric Balchunas said that Bitcoin ETFs are very likely to replay gold’s volatility trajectory, experiencing “an astonishing rally” and “painful pullback,” thereby testing investors’ patience.

Balchunas noted that both gold and Bitcoin are non-yielding value stores and do not generate cash flow. The demand for them driven by market sentiment can lead to “a sudden surge in prices,” or to long-term stagnation. Therefore, Bitcoin ETFs may follow the same script: an astonishing gain, painful drawdowns, and a possible rebound that tests investors’ patience.

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