Bitcoin Collapse to $10,000 Could Be Real, Per Mike McGlone’s Crucial Warning

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Ah, the poetry of finance! Mike McGlone, Bloomberg’s senior commodity strategist, like a harbinger of doom, shared a tweet today that hearken’s back to the birth of Bitcoin. The genesis of it all-the Great Recession of 2008-where the echoes of despair gave birth not only to Bitcoin but also to an entire deluge of cryptocurrencies. A time of tragedy, but oh, what an opportunity for tech enthusiasts! 💸

McGlone, in all his glory, points out that there are around 20 million coins flitting around in the wilds of the internet. How charming! But wait-he’s suggesting that Bitcoin, the star among these digital coins, may tumble from its current towering perch of $110,000 down, down to $10,000. Yes, that’s right: a monumental fall-perhaps as inevitable as winter after autumn 🍂.

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McGlone’s Bitcoin $10,000 crash warning

McGlone, with a grin that probably hides a little mischief, brings forth a “key risk-asset leading indicator” (try saying that ten times fast) with a chart that includes Bitcoin, gold, and the S&P 500 index. According to this financial oracle, Bitcoin is far too full of itself, overstretching like a cat that’s eaten too much tuna. There’s a “bubble-like overextension” that could burst, sending Bitcoin tumbling back down to a humble $10,000 as part of a “normal reversion.” 🌐✨

The launch of Bitcoin on the back of the great recession spurred a proliferation of cryptocurrencies about 20-million are listed on CoinMarketCap and may be a key risk-asset leading indicator. My graphic shows normal reversion in Bitcoin might be toward $10,000.
Full report…

– Mike McGlone (@mikemcglone11) September 4, 2025

But wait! It gets juicier. McGlone’s earlier tweet also suggested that Bitcoin might see a little “slippage” against gold. The Bitcoin/gold ratio currently stands at 35, meaning one Bitcoin buys 35 ounces of gold. But oh, McGlone thinks it may slide to 25-because why wouldn’t Bitcoin lose a bit of shine? A “slight downward rotation” is just what the doctor ordered, or rather, what the market dictates! 📉

Bitcoin to $250,000 by end of 2025: Tim Draper

Now, hold your horses! Enter Tim Draper, the billionaire investor, a man of such conviction that he’s doubled down on his forecast that Bitcoin will reach an absurd $250,000 by the end of the year. Oh, how he believes in the magic of institutional FOMO-fear of missing out. According to Draper, “We’re watching banks and boardrooms across America scramble to figure out Bitcoin custody.” Once, these companies scoffed at Bitcoin like it was some kind of fantasy. Now? Well, now they are hoarding as much of it as they can, trying to stash it away like digital treasure in some virtual chest. 💎

For Draper, not owning Bitcoin is nothing short of irresponsible. A sentiment that, perhaps, is the modern equivalent of not owning a classic piece of art. But in the world of billionaires, everything is art, especially if it’s shiny and potentially worth $250,000.

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2025-09-04 16:56