Bloomberg analyst suggests bitcoin could drop to $10,000

Check out this YouTube video link: https://youtu.be/-_q8kQrIdXA?si=aYnfr68oglrDSWxN Honestly, this has to be one of the dumbest predictions I've heard lately. People really need to stop listening to Bitcoin critics like this dude. I’m pretty sure Mike McGlone falls in that category. I don’t know him personally, but it’s pretty clear to me that he’s not a real analyst.

Although $10,000 sounds too unrealistic, it still shows evidence that things aren't going too well. Perhaps Bitcoin won't crash that much, but $50,000 might sound like a plausible scenario. Unfortunately, Trump's influence was only temporary, and his policies now seem more permanent than the bullshit he was claiming during the elections. This doesn't concern cryptocurrencies only, but the global economy, and it's like he's fighting his way into a global recession. At first, I was a little more confident, but as time passes by, I am becoming a little more worried about the current situation, this isn't something that's going to resolve itself in the next few days. I was confident that Trump was no good, especially for cryptocurrencies, but now it seems certain. He's certainly not going to "make American great again".

You should be expecting this and not too surprised because of his prediction. He also knows the market will not get to that price ever again and he is just making an unrealistic prediction. The market is an open place where everyone now claims to be analysts and give prediction on what they feel hoping to get more followers, view and likes for their YouTube videos. It is their own way of making money from this digital space. You know how easy it is to sell FUD’s these days, so you should not bother even finding out or be sure if he’s an analyst or not. He is a content creator and they do anything they can including sharing fake news to get those views and likes they want in order to get a good bathed end of the money from YouTube streams.

That is a joke taken too far or should I say such fellow is just a comedian. During the previous cycle that Bitcoin reach an ATH of $69k, the correction did not fall to $10k so why will the correction of an ATH of over $100k reach $10k? That is the same thing as saying that Michael Saylor and all of us have lost faith in Bitcoin and decide to sell, something that will never happen. Well, he should enjoy the media attention and trends as usual since anyone that wants to make headlines can easily achieve that by spreading fud about Bitcoin.

Mainstream media such as Bloomberg have always written mostly negative things about Bitcoin, so I am not surprised if that's what their analyst has to say. I always started seeing such news when Bitcoin was hitting alt time highs or if there was a sudden simple dump. One thing I love about Bitcoin in the past was that it always made them eat their own words every other time. So anything to do with Bloomberg, Reuters and all those legacy media, avoid like a plague.

buy the dip set in buys at 74k 69k 64k 59k 54k 49k 44k 39k 34k 29k 24k 19k 14k 09k

I've been in Bitcoin world ever since 2014 and I've seen prices as low as $150 and in all these years I've seen that each time there is any kind of drop there is always this type of people crawling out of their hole to talk about the lowest price bitcoin will fall down to. For example when price dropped to $150 they were talking about how it will dump all the way down to $10. Things haven't changed in the regard. I wouldn't use the term "analyst" for any of them though. They have various objectives for the nonsense they spread which requires a different discussion but they are not analyzing or speculating the market. The only important thing is that people should start memorizing these things so that they can remember them in the future and then gain experience about not trusting any garbage they read on the internet. The problem is that is hard to remember these things specially when people are constantly bombarded by new things. I sometimes bookmark these things for myself to review years later. For example take a look at the post history of kwukduck aka the biggest troll in the speculation board or this topic for example where the starter tries to create an illusion of "expertise" by referencing their own old posts and afterward claim bitcoin will fall to $1k on 2021-12-06 just because at that time price dropped from the ATH @69k down to $45k at that time. It is 4-5 years later and you can easily check the charts and see if it happened or not!

I wouldn’t call that a stupid prediction because we’ve seen it happen before, a massive dump followed by recovery. So, if it happens again, believers shouldn’t panic since the market always bounces back eventually. Remember the 2017-2018 bull run when Bitcoin hit $20K? After that, a long correction led to a bear market, dropping Bitcoin as low as $3,200. Nothing is guaranteed, but one thing is for sure, when that time comes, the whales will accumulate hard.

The analysis he has done shows that he is not an analyst at all. He may be thinking of going viral with the public by making such predictions. But think about one thing, if Bitcoin can reach $109k, then there is no possibility of Bitcoin reaching $10k, but mentioning $50k would also be somewhat appropriate. Believing such people means being nervous, so I want to tell everyone that one should not believe such analysts at all.

I am an analyst. That is the reason I completely know that the prediction is stupid. This has not happened before. Bitcoin has not fallen back to its lowest price in a four year cycle before. So you are not right for posting that this has happened before. I am certain that bitcoin is not going below $15500 anymore and I doubt if bitcoin will go below $25000/$30000. But this is not the time for such stupid and inaccurate prediction.

Bitcoin is a volatile asset and therefore we should expect it to pump and dump, but how low or high it's price will go is always a subject of speculation for analysts. Everybody is entitled to their own opinions about where they think Bitcoin price will be in the future but some speculations seems unrealistic based on the facts from previous circles. With the current ATH in mind I don't think that Bitcoin price can dump to $10k in this circle and future circles. We might see price dump between the range of $40 and $50k  in bear run but I doubt that price at $10 is feasible anymore.

I do think we can reach $50k-$40k, and then there would be a rebounce. 10K is too low, in my opinion.

He might be a Bloomberg analyst but I've been more successful with predictions than any known crypto analysts. I don't know how they call themselves analysts and make such ridiculous statements. Bitcoin can't fall to $10000, it's too low for a currency that had 109K USD all-time high price. The max that Bitcoin can fall to is 20K USD. When I say maximum, I mean that it's really the maximum amount, there is no way on earth for Bitcoin to go down further. Anyone can look at past Bitcoin prices and compare all-time highs to the lowest prices during each halving. It has never been more than 80%.

It sounds unrealistic that the price of Bitcoin will touch $10,000, because although the price of Bitcoin is declining in the Bitcoin market, it is normal to be between $60,000 and $80,000. The prediction that McGlone has made is completely out of control, and creates confusion among new investors and weakens weak hands even more. If someone says that Bitcoin will dip and sell it according to their advice, they will be wrong, the price of Bitcoin will decline but will remain above $60,000. It would be foolish to panic after hearing such news, the price of Bitcoin has so far touched $79,152.

That will make a big chaos in the market. Many people will not ready in the situation and they will save their money first. But those who still believe in Bitcoin will use that time to buy many Bitcoin. They believe Bitcoin price increase in the right time and will surge to the high price. Let those people predict what will happen to Bitcoin but they don't know if that will happen or not. So we don't have to believe of what they say and still accumulate more Bitcoin. No one know what will happen to Bitcoin and while we still have a chance to accumulate Bitcoin, we can do that and hodl it.

But things have changed a lot since years ago, we have bitcoin ETFs and it has even become a reserve asset of countries. More notably, bitcoin's market capitalization is already huge (nearly $2 trillion) and comparable to sustainable assets like silver. That means it is being embraced and recognized by people, and is on its way to becoming a mainstream asset. It is slowly moving away from the bump&dump games like small cap shitcoins. So if the bitcoin drops to $10k at this point, it is not something we should expect nor is it normal. If bitcoin never matures and remains just a speculative tool for whales, I have serious doubts about its future.

The sad part about the whole thing is that there will be people who will listen to him and entertain FUD. Most 'analysts' often use this period of uncertainty to enrich their YouTube channel and get views because deep down they know that it will go up but the fact that they can just sow seeds of doubts in the minds of potential investors gives them some sort of fulfilment.  Some of them will use their positions as "financial experts" and give funny predictions but go behind to take advantage of the dip and buy meanwhile deceiving others.

This is one of the reasons why I don't like watching random videos i come across online. It has no effect on people who already familiar their game but this stupid critics who portray themselves as analysts would cause distraction in the mind of new comers and cause unnecessary panic. They might end up doubting the credibility of Bitcoin. It's obvious the market is not on the right track but that doesn't mean stupid analysis should start trooping in unguarded. If bitcoin should crash to $10k at the moment, all other altcoins will definitely crash to $0 without doubt. You can be whatever you want but some people people choose to be unfortunate when giving their opinion on bitcoin.

I'm not going to waste my time watching his stupid "analysis", but on the other hand, he's kinda right. The possibility of the Bitcoin price dropping down to 10K USD will always remain. Bitcoin might get dethroned by a better cryptocurrency after 10 years, or BTC might get banned by the next US president. Who knows what's going to happen after several years or decades. This McGlone guy probably wants to spread more FUD, so that more Bitcoiners panic and sell. The "bears" on the market will take advantage of the FUD and panic selling. By the way, it seems that the financial markets might slowly recover after the "Trump tariffs" shock(until Trump shocks the markets again).

Or better yet, this could be a sign that Bitcoin will really go up till the end of the year when mainstream media has predicted another demise of Bitcoin. We have seen this before and so I wouldn't be bothered by this kind of reports. And again as I have said, time again to accumulate Bitcoin and prepare the best things that can happen to us. We are going to see another 6 digits and who knows what will be that all time high around October-December.