Bloomberg Senior Commodity Strategist Mike McGlone reiterated his prediction that Bitcoin could drop to 10,000 dollars.
The strategist argued that the drop to this level would only be a “simple mean reversion.” According to McGlone, the leading cryptocurrency gained value recently by leaning on the historic upward trend in US stock markets. He noted that when this support factor disappears, a sharp correction in the value of Bitcoin could occur.
In a recent interview, McGlone stated that Bitcoin is not a “safe haven” as often claimed. “Bitcoin has three times the volatility compared to gold and the S&P 500. People are paying a heavy price for this,” he said.
The strategist recalled that in the past, he correctly predicted the level that Bitcoin would reach by 2025, emphasizing that the current pullback to 10,000 dollars after this rise would be a common mean reversion in the market. According to him, such pullbacks are typically a classic situation that results from prices peaking after major ETF launches.
On the other hand, McGlone also stated that Bitcoin could exhibit strong performance again this year. He emphasized that caution should be exercised before this rise, saying, “If gold continues to leave everything behind, it is a significant warning.”
Published: April 11, 2025 13:44
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
