Bloomberg analyst expects bitcoin to fall to $10,000
Senior Bloomberg strategist Mike McGlone stated that bitcoin may return to around the $10,000 level. This is significant as it signals a possible correction following the cryptocurrency’s substantial rally.
Source Incrypted
According to McGlone, the key growth drivers have already been realized — including the launch of ETFs, institutional recognition, and widespread market attention. Due to market overload and the exhaustion of positive expectations, he believes bitcoin could pull back to the prices where the 2020 rally started.
Thus, this potential correction may represent a crucial test for investors and help shape the next trend in the crypto market
