Is Bitcoin on the Verge of a Big Fall? Bloomberg Strategist Thinks So đŸ˜±

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Ah, what a world we live in! Bitcoin, the ever-volatile enigma, has become the subject of the hour. Bloomberg’s very own Mike McGlone-yes, the same man who probably has nightmares of falling zeroes-has boldly proclaimed that Bitcoin might, just might, lose a zero and plummet to a humble $10,000. A prediction, my friends, that fills one with the deep existential dread of watching your favorite stock slip into oblivion. McGlone shared this insight with none other than David Lin in an interview today. The audacity! 😬

McGlone, a Senior Commodity Strategist at Bloomberg Intelligence, points out, with an almost sinister gleam in his eye, that Bitcoin has been riding the waves of an ever-ascending rise since its inception. Ah yes, the dizzying heights of 2025, where it supposedly reached its pinnacle. But what’s this? The almighty Bitcoin, like all booms, seems to be mirroring the fickle behavior of all risky assets. Like a delusional gambler, it finds itself increasingly correlated with traditional risk assets-such as the ever-so-stable S&P 500, which just hit a record high. Oh, sweet irony! Bitcoin, that wild rebel of finance, is suddenly looking more and more like a bubbly peak on the verge of bursting. 😅

And let’s not forget the looming specter of stock market corrections, which seem to be always lurking just around the corner. With Trump’s tariff policies stirring the pot and volatility rising like a rising tide, Bitcoin, that glorious high-beta asset, might find itself swept away into the abyss. Ah, the sweet sorrow of high stakes! 💾

McGlone, ever the pessimist, points out that Bitcoin has “added a zero” several times throughout its chaotic history-only to lose it in the great correction that inevitably follows. He doesn’t mince words, predicting that the S&P 500 could plummet to a mere 4,000, and the market cap-to-GDP ratio of U.S. stocks could hit a troubling 2.2. This, he claims, signals a reset. A reset of what, you ask? Of everything, my dear reader, of everything.

Industry Debate: Bearish Fears vs. Bullish Delusions đŸ’„

As expected, McGlone’s warning has sparked a grand debate among those who live and breathe the digital asset world. On one side, we have the doom-and-gloom crowd-those who envision Bitcoin’s value dropping so low, it could be mistaken for a bargain-bin trinket. But lo and behold! On the other side, we have the ever-hopeful bulls, those who predict Bitcoin’s meteoric rise to a sky-high $200,000 by the end of the year. Their reasoning? Post-halving effects and the increasing demand for ETFs. Oh, what a magnificent contrast of visions for the future! 😂

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2025-09-03 17:43