Bitcoin Back to $10,000? - Bloomberg’s Mike McGlone Reveals Gloomy Prospect

Mike McGlone, senior commodity strategist at Bloomberg Intelligence, has tweeted about Bitcoin possibly crashing to $10,000, likening it to the dot-com bubble. He notes that while gold prices are rising, Bitcoin is down significantly, suggesting a potential downturn ahead due to market volatility and speculative investments. McGlone argues that Bitcoin’s trajectory mirrors the drastic fluctuations seen in tech stocks during the early 2000s and hints at an imminent bubble burst for the cryptocurrency.