❗️Bloomberg claims Bitcoin will experience a fall of up to 60 percent is it true let's discuss❗️
Bloomberg Intelligence macro strategist and senior analyst Mike McGlone has shared some worrying news for the cryptocurrency community. The reason, he stated that Bitcoin (BTC) may be on the verge of a significant price drop of 60 percent. This was reported by WhaleWire's X account on Sunday (8/10/2023).
This pessimistic outlook comes amid concerns about liquidity and rising global interest rates, despite increasingly strong recession signals. This McGlone analyst deals with several key factors that give an alarming picture to this flagship crypto.
First of all, he pointed to the constantly negative liquidity conditions in the market. In addition, this strategic highlights the continued rise in global interest rates, even amid lurking recession indicators.
Reporting from Platform X, one of the important levels identified by McGlone for Bitcoin is a psychologically significant level, namely US$ 30,000.
“This price point serves as a crucial level for BTC. In my opinion, the risks for Bitcoin appear to be tending towards a dramatic decline to around$ 10,000,” McGlone said.
#BTC
Bloomberg Intelligence macro strategist and senior analyst Mike McGlone has shared some worrying news for the cryptocurrency community. The reason, he stated that Bitcoin (BTC) may be on the verge of a significant price drop of 60 percent. This was reported by WhaleWire's X account on Sunday (8/10/2023).
This pessimistic outlook comes amid concerns about liquidity and rising global interest rates, despite increasingly strong recession signals. This McGlone analyst deals with several key factors that give an alarming picture to this flagship crypto.
First of all, he pointed to the constantly negative liquidity conditions in the market. In addition, this strategic highlights the continued rise in global interest rates, even amid lurking recession indicators.
Reporting from Platform X, one of the important levels identified by McGlone for Bitcoin is a psychologically significant level, namely US$ 30,000.
“This price point serves as a crucial level for BTC. In my opinion, the risks for Bitcoin appear to be tending towards a dramatic decline to around$ 10,000,” McGlone said.
#BTC
