Bloomberg senior commodity strategist Mike McGlone has reiterated his ultra-bearish Bitcoin price forecast, claiming a plunge to $10,000 is a simple reversion to the mean. McGlone argues that Bitcoin has been riding the coattails of the U.S. stock markets record-breaking rally and lacks the stability often associated with safe-haven assets. Despite Bitcoin reaching an all-time high of $108,786, McGlone insists the surge is unsustainable. He views the recent spot Bitcoin ETF approvals as a classic signal of a market top, stating, A massive ETF launch often marks a peak. According to him,…
Source:: Bloomberg Strategist Mike McGlone Predicts Bitcoin Crash to $10K Amid Market Reversion