Bloomberg Expert Analyst Explains Why A Fall To $10,000 Isn’t Bad For Bitcoin
Since the price of Bitcoin fell below $30,000, numerous forecasts have been made on the currency’s potential future price outlook of the asset. As the biggest cryptocurrency in the world, Bitcoin has amassed price headlines, some of which are optimistic while others are pessimistic. However, a question that lingers is whether another crash is really the end of the world for Bitcoin. In such an event, Mike McGlone, a senior analyst at Bloomberg, believes that even a decrease in price to $10,000 would not be bad for Bitcoin. Bitcoin Still Outperforming The Stock Market A fall in....
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The collapse of Sam Bankman-Fried’s crypto empire is likely to have repercussions beyond the crypto markets, according to Mike McGlone, senior commodity strategist at Bloomberg. The repercussions of the cataclysmic FTX downfall are going to be broader than the crypto markets, as they will accelerate downward moves in stocks and commodity markets, according to Mike McGlone, senior marco analyst at Bloomberg.“Bitcoin has been one of the leading indicators on the way up, and it’s a leading indicator on the way down. And it’s just broken down, so expect most dominoes to fall,” McGlone pointed....