Is Bitcoin heading back to $10,000, or is a new bull market just getting started? Over the past couple of days, two Wall Street analysts have staked out opposite extremes.
Bloomberg’s Mike McGlone warned that if U.S. stocks pull back 20%, $BTC could fall toward $10,000. Fidelity’s Jurrien Timmer looked at the power-law curve and said a new four-year bull market may have already begun: “Bull markets rarely start with a story.” CBM’s post asking “Who’s right?” has had over 20,000 views.
I think the really useful part is McGlone’s premise: U.S. stocks. For Bitcoin to fall to $10,000, U.S. stocks would have to plunge first, and then something would have to go wrong in crypto—too many conditions. But the correlation is real: a couple of days ago, after the CPI data came out, U.S. stocks plunged and BTC also fell below $80,000. It’s now around $81,566, down 0.6% over 24 hours.
That’s how I see it. Make up your own mind.
What about you—do you believe McGlone or Timmer?
#比特币 #U.S. stocks
Bloomberg’s Mike McGlone warned that if U.S. stocks pull back 20%, $BTC could fall toward $10,000. Fidelity’s Jurrien Timmer looked at the power-law curve and said a new four-year bull market may have already begun: “Bull markets rarely start with a story.” CBM’s post asking “Who’s right?” has had over 20,000 views.
I think the really useful part is McGlone’s premise: U.S. stocks. For Bitcoin to fall to $10,000, U.S. stocks would have to plunge first, and then something would have to go wrong in crypto—too many conditions. But the correlation is real: a couple of days ago, after the CPI data came out, U.S. stocks plunged and BTC also fell below $80,000. It’s now around $81,566, down 0.6% over 24 hours.
That’s how I see it. Make up your own mind.
What about you—do you believe McGlone or Timmer?
#比特币 #U.S. stocks