The Bitcoin price has been highly unpredictable lately, with recent fluctuations hinting at a potential downward trend. Currently trading below the significant $85k mark, Bitcoin is poised to experience severe downfalls. Bloomberg analyst Mike McGlone’s recent prediction has sparked caution, as he warned of Bitcoin’s possible crash to $10k.
Amidst mixed predictions about Bitcoin’s future, McGlone’s warning has garnered significant attention, prompting investors and traders to exercise caution. Let’s explore the diverse perspectives of experts on the potential trends in Bitcoin’s price.
Will Bitcoin Price Dip to $10K? Bloomberg Analyst Warns
In a recent bearish analysis, Mike McGlone, a Bloomberg analyst, shared insights on the Bitcoin price’s potential downtrend. McGlone presented a gloomy picture of Bitcoin’s future trends, projecting its possible fall to a low of $10,000.
Notably, the analyst suggested that the bearish trend has already started. He added that the risk markets are showing evidence of overheating while gold rises. McGlone further noted,
Gold is up about the same amount in 2025 to March 13 — about 15% — 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.
Is Bitcoin About to Burst?
In another X thread, the Bloomberg analyst posited that Bitcoin’s creation in 2009 coincided with the stock market’s low point during the mortgage crisis. He added that Bitcoin has spearheaded “one of the greatest risk-asset rallies in history” since then. This implies that the analysts sees Bitcoin as a highly overvalued asset that is due for a significant correction.
Additionally, McGlone highlighted the groundbreaking Bitcoin ETF launch and President Donald Trump’s pro-crypto approach. He suggested that the Bitcoin price has reached the pinnacle of a bubble reminiscent of the dot-com era.
Reinforcing McGlone’s prediction, analysts like CryptoCove asserted that Bitcoin’s bearish trend will continue. CryptoCove predicted a decline in Bitcoin’s price to around $70-$75k. This forecast is supported by the presence of a rising wedge pattern on the BTC price chart, which the analyst believes to be a bear flag.
Will Bitcoin Rebound? Experts Defy McGlone’s Forecast
Commenting on McGlone’s predictions, Bitcoin maximalist Joe Buchner emphasized the potential implications of the Bitcoin price crash. He stated,
If BTC dropped to 10k I think we’d 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.
However, many market experts defied McGlone’s BTC forecast, predicting a bullish future for Bitcoin. For instance, analyst Captain Faibik announced that Bitcoin is ready for a rebound targeting $108k.
Similarly, analyst CryptoELITES shared a more optimistic prediction for Bitcoin price, projecting its rally to $190k and beyond. As of now, Bitcoin is valued at $84,074, up by 1.04% in a day. Despite the daily surge, the cryptocurrency has seen notable dips of 2.42% and 12.3% over the past week and month, respectively.
The post Bitcoin Price Risks Falling To $10K, Bloomberg Analyst Warns appeared first on CoinGape.
Earn more PRC tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://parrotcoin.net0
PRC Comment Policy
Your comments MUST BE constructive with vivid and clear suggestion relating to the post.
Your comments MUST NOT be less than 5 words.
Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.
Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.
Constructive REPLY to comments is allowed