Odaily News Mike McGlone, a senior strategist at Bloomberg, stated in an interview that Bitcoin could significantly fall to $10,000 due to the ongoing global market dumping and overvaluation. He pointed out that there is a serious bubble in crypto assets, including DOGE, and the entire industry needs to be “purified” like it was during the bursting of the internet bubble.
McGlone warns that the current narrative of Bitcoin as “digital gold” is undergoing a stress test, and ETF investors are “learning the hard way” that what they bought is not gold, but a highly volatile leveraged asset. He believes that a market reset is inevitable, and investors should prepare for a long-term recovery rather than a quick rebound. (Cointelegraph)
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.
