🚨 Bitcoin’s 1929 Déjà Vu? Bloomberg’s Cowardly Crypto Warning! 🎭

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My dear darlings, gather ’round! In a recent dispatch, the ever-so-clever Mike McGlone, Bloomberg Intelligence’s senior macro strategist, has donned his most dramatic monocle to draw a parallel so bold, it’s practically a NoĂ«l Coward plot twist! He declares the Bloomberg Galaxy Crypto Index in 2025 is but a mirror to the Dow in 1929, darlings. Oh, the audacity! He whimsically titles it “Peak Bitcoin?” and insists we’re not merely pausing-heaven forbid!-but purging, much like the Great Depression’s grand encore nearly a century ago. 🕰️💸

The comparison, my loves, is as concrete as a cocktail party gossip. Bloomberg’s own charts-oh, those delightful lines and squiggles!-show crypto tracing the same arc as U.S. equities did in the Roaring Twenties: a dazzling ascent, a frenzy of speculation, and then-gasp-a slow, dramatic descent. 🎢📉

McGlone, the darling, argues this is precisely when the “bubble-or-not” debates bubble over, typically near the summit, not the depths. And Bitcoin, oh so tightly tethered to those risquĂ© risk markets, fits the script like a glove at a society ball. 🎭💼

First the surge, then the purge-darling!

He paints Bitcoin’s post-2024 surge as a beach ball forced underwater, only to bounce back once the 2024 reelection lifted the political corset. Since then, the price has galloped, speculative appetites have followed, and excess has piled up like hats at Ascot. Now, in McGlone’s words, the cleansing phase is upon us. Bitcoin is down a mere 5% in 2025 through Dec. 14-a resilience, he warns, that may mask a far grander downfall rather than signal safety. 🧼🌀

But wait, my dears, the plot thickens! Enter gold, the eternal diva of assets. The Bitcoin-to-gold ratio, which ended 2022 at a modest 10, ballooned during the crypto rally, only to deflate by 40% this year to a still-giddy 21. McGlone foresees a return to 10 by 2026, a move that historically sends all risk assets into a tizzy. 🏆✨

And the pièce de résistance? McGlone’s most jarring projection: Bitcoin’s glorious run above $100,000 may have sown the seeds for a long, dramatic pullback, with even $10,000 whispered as a potential destination by 2026. All this, alongside a broader downturn led by high-supply speculative assets that track nothing but air. 🌪️💨

So, my cherubs, as we sip our martinis and watch the crypto world spin, remember: history doesn’t repeat, but it does perform an encore-with far more flair. 🎩🍸

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2025-12-15 20:00