Ah, Bitcoin. The cryptocurrency thatâs more unpredictable than my Aunt Edna after a few too many glasses of wine. Just when you think itâs settled down, it decides to take a nosedive below the $85k mark, leaving investors clutching their pearls and wondering if they should have just invested in Beanie Babies instead. Bloomberg analyst Mike McGlone has thrown a wet blanket on the party, warning that Bitcoin could crash to a mere $10k. Yes, you heard that rightâ$10,000! đ
With predictions flying around like confetti at a New Yearâs Eve party, McGloneâs cautionary tale has everyone on edge. Letâs dive into the delightful chaos of expert opinions on Bitcoinâs future, shall we?
Will Bitcoin Price Dip to $10K? Bloomberg Analyst Warns
In a recent analysis that could only be described as âgloomy with a chance of despair,â McGlone painted a picture of Bitcoinâs potential downtrend thatâs as bleak as a rainy day in London. Heâs predicting a fall to $10,000, which is about as comforting as a dentist appointment.
He claims the bearish trend has already begun, suggesting that the risk markets are overheating while gold is having a little victory dance. McGlone quipped,
âGold is up about the same amount in 2025 to March 13 â about 15% â that Bitcoin is down. But with Bitcoin at about $80,000, what stops those trajectories? About a 6% decline in the S&P 500 could suggest what matters.â
Is Bitcoin About to Burst?
In another riveting thread on X (formerly known as Twitter, because why not?), McGlone pointed out that Bitcoinâs birth in 2009 coincided with the stock marketâs low point during the mortgage crisis. He claims Bitcoin has led âone of the greatest risk-asset rallies in history,â which sounds impressive until you realize itâs like being the tallest kid in kindergarten.
He also mentioned the groundbreaking Bitcoin ETF launch and President Trumpâs enthusiastic embrace of crypto. McGlone believes Bitcoin has reached the pinnacle of a bubble that would make the dot-com era look like a quaint little tea party.
Backing up McGloneâs prediction, analysts like CryptoCove are predicting Bitcoinâs price will continue to tumble, possibly landing around $70-$75k. Theyâre convinced that a rising wedge pattern on the BTC price chart is a bear flag, which sounds like something youâd see at a very niche festival.
Will Bitcoin Rebound? Experts Defy McGloneâs Forecast
In a twist that could only happen in the world of crypto, Bitcoin maximalist Joe Buchner weighed in on McGloneâs predictions, stating,
âIf BTC dropped to 10k I think weâd be in a larger global issue than worrying about that. WWIII maybe would be in play and even then I think BTC would get flooded with $ for safety.â
But not everyone is ready to throw in the towel. Many market experts are defying McGloneâs gloomy forecast, predicting a bullish future for Bitcoin. For instance, analyst Captain Faibik is confidently announcing that Bitcoin is gearing up for a rebound targeting $108k. Talk about optimism! đ
Similarly, analyst CryptoELITES is dreaming big, projecting Bitcoinâs price to rally to $190k and beyond. As of now, Bitcoin is valued at $84,074, up by 1.04% in a day. But donât get too excitedâthis cryptocurrency has seen notable dips of 2.42% and 12.3% over the past week and month, respectively. Itâs like a rollercoaster ride, but without the safety harness. đ˘
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2025-03-15 16:31