Major Bitcoin Crash Warning: Analyst Warns BTC Could Fall to $10,000
Bloomberg Intelligence Senior Commodity Strategist Mike McGlone has made a doomsday prediction for Bitcoin. The strategist predicted that BTC could crash to the $10,000 level if a series of events occurred in the markets. He warned that gold prices above the $3,000 mark are a triggering point for other assets to plummet in value. The development puts pressure on the broader stock and cryptocurrency market, which could lead to a downward trajectory. Also Read: Ripple Rebounds 4% to End the Week: Can XRP Target $4? Source: Coingecko Bitcoin is currently hovering around the $83,750 level and remains trading sideways in the charts. It has dipped close to 15% in the last 30 days and is exactly opposite to gold where it rose nearly to 15% year-to-date. The inflow of funds from institutional investors is moving into gold and the commodity markets leaving stock and cryptocurrencies in the limbo. The move could put BTC on a slippery slope with higher chances of a price dip. Also Read: Solana: W...