The post Bloomberg’s Mike McGlone Explains BTC Reversal, Analysts Predict Potential Crash appeared first on Coinpedia Fintech News
Bloomberg’s chief commodity strategist Mike McGlone in a latest X post has shared why the Bitcoin price has reversed and went way below its recent all time high of $108,268 and has dropped even further to $93,000, at the moment.
Has Bitcoin/Gold Peaked? Just a bit of normal reversion in stretched risk assets may be what peaking #Bitcoin / #gold is sniffing out, and the crypto is among the riskiest.That the S&P 500 hasn’t had a 10% drawdown since 4Q23 is unlikely to be sustained in 2025, if history is a… pic.twitter.com/oZas9mw1q3
— Mike McGlone (@mikemcglone11) December 23, 2024
Has Bitcoin/Gold Peaked?
The analyst has remarked that the current reversal not only concerns just Bitcoin, but gold and other risk assets as well. However, due to its elevated volatility, Bitcoin has been hit the hardest. Mc Glone noted that the curren
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