Bloomberg Intelligence Senior Commodity Strategist Mike McGlone A doomsday forecast for Bitcoin has been made. He predicted BTC would crash into the $10,000 range if certain events happened in the market. He said that a gold price above $3,000 is a trigger point to see other assets plummet. This puts downward pressure on cryptocurrency and stock markets.
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Bitcoin remains in a sideways trading pattern and is hovering just above the $83,750 mark. The price of bitcoin has dropped by close to 15 percent in the past 30 days, and it is opposite gold which rose almost 15% this year. Inflows of institutional funds are moving to gold and commodity markets, which leaves stocks and cryptos in the dark. BTC could be put on a slippery path with increased chances of a dip in price.
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Bitcoin: BTC up to $10,000? The Analysts warn of disaster
McGlone was a writer who wrote in his latest research paper Bitcoin’s chances to go down are higher if the gold price continues to rise. He added that if the S&P 500 index dips another 6%, it could cause damage to both stocks and BTC. “Bitcoin back to $10,000? Peak leveraged beta risks, rising gold. Gold is up about the same amount in 2025 to March 13 about 15% that Bitcoin is down. But with Bitcoin at about $80,000, what stops those trajectories? About a 6% decline in the S&P 500 could suggest what matters,” He wrote about X.
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Bitcoin back to $10,000? Peak Leveraged Beta Risks, Rising Gold – #Gold is up about the same amount in 2025 to March 13 — about 15% — that #Bitcoin The price of Bitcoin is currently down. What stops these trajectories with Bitcoin around $80,000? About a 6% decline in the S&P 500 could suggest what… pic.twitter.com/aMgL0LANFt
— Mike McGlone (@mikemcglone11) March 14, 2025
Analyst wrote that Trump’s wager on cryptocurrency speculation could further fuel the Bitcoin collapse. “The biggest ETF launch in history, President Donald Trump’s shift to highly volatile and speculative cryptos, and reelection could prove peak-bubble akin to about 25 years ago,” He concluded his remarks.
However, McGlone’s research paper has a lot of ‘IF’ citing ‘IF THIS’ happens then BTC could crash. Nonetheless, if nothing happens, like the S&P 500 dipping another 6%, Bitcoin might not plummet.
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Source: watcher.guru
