Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Cryptocurrencies

Bitcoin To $10,000? Top Analyst Issues A Stark Warning

Source Newsbtc

An analyst revealed on Friday that Bitcoin might suffer a 91% decline from the coin’s all-time high of $109,000 per coin in January 2025, suggesting that the most popular cryptocurrency could potentially crash.

Mike McGlone believes that the firstborn crypto might plummet to a low of $10,000 per coin, reigniting concerns that Bitcoin might experience another deep correction similar to 2011 when Bitcoin dipped by as much as 92%.

BTC To Crash To $10K?

McGlone, a Senior Commodity Strategist at Bloomberg Intelligence, predicted that Bitcoin might be heading to what he described as a devastating collapse, resulting in the crypto sliding to $10,000.

“Bitcoin Back to $10,000? Peak Leveraged Beta Risks, Rising Gold – #Gold is up about the same amount in 2025 to March 13 — about 15% — that #Bitcoin is down,” McGlone said.

If Bitcoin will plunge to $10,000, it will represent a 90% decrease from BTC’s all-time high of $109,000 in January 2025. On the other hand, it will fall by 88% if based on its current price of about $83,000.

Bitcoin Back to $10,000? Peak Leveraged Beta Risks, Rising Gold – #Gold is up about the same amount in 2025 to March 13 — about 15% — that #Bitcoin is down. But with Bitcoin at about $80,000, what stops those trajectories? About a 6% decline in the S&P 500 could suggest what… pic.twitter.com/aMgL0LANFt

— Mike McGlone (@mikemcglone11) March 14, 2025

The analyst explained that Bitcoin is more likely to face a significant correction that might push it downward to $10,000. Historically, the firstborn crypto experienced a deep correction in 2011 when the BTC declined to 92% from its high at that time.

Has The Crash Begun?

In an X post, McGlone suggested Bitcoin’s crash to $10,000 may have already started, citing that risk markets are showing signs of overheating while gold rises.

The analyst explained that gold has increased by 1% while Bitcoin went down, saying, “But with Bitcoin at about $80,000, what stops those trajectories?”

“About a 6% decline in the S&P 500 could suggest what matters. The biggest #ETF launch in history, President Donald Trump’s shift to highly volatile and speculative #cryptos, and reelection could prove [a] peak-bubble akin to about 25 years ago,” he added in a post, suggesting that BTC might have reached the peak of a dot-com-style bubble.

Rebuttal Of The Analysis

Many Bitcoin proponents and analysts disagree with McGlone’s analysis, with one crypto analyst, David Weisberger countering the evaluation of the Bloomberg analyst, saying his assessment was flawed.

“When one considers an option as an asset, THIS is what happens to one’s analysis. If there was ZERO increase in Bitcoin adoption and IF those who invested thinking Bitcoin will demonetize gold change their minds and IF the stock market correction turns into a rout, and IF “BETA” was stable, Then this scenario could play out,” Weisberger explained.

He argued that the scenario in McGlone’s analysis is unlikely to happen. “I think none of the above will happen with a chance the stock market crashes, which, of course, would trigger a flood of liquidity.”

Featured image from Gemini Imagen, chart from TradingView

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Dollar holds above 100 near a 3-month high — three Fed speakers and a $69 billion auction land tonight The dollar index closed at 100.43 on Monday, its highest close since late July, after a weekly gain of about 1% — the best in more than three months — and is holding above the 100.00 handle in Asia. Three Fed officials speak tonight alongside a $69 billion two-year note auction, the first leg of $183 billion of Treasury supply this week.

Author Suzie

Sep 22, Tue

The dollar index closed at 100.43 on Monday, its highest close since late July, after a weekly gain of about 1% — the best in more than three months — and is holding above the 100.00 handle in Asia. Three Fed officials speak tonight alongside a $69 billion two-year note auction, the first leg of $183 billion of Treasury supply this week.

October hike odds climb toward 60% as Goldman and BofA both flip — what Warsh's "dose of accommodation" really changed Rate futures now price roughly 55% to 62% for a 25bp hike at the October 27-28 FOMC, up from about 30% before Chair Warsh's post-meeting framing that the Fed is merely "removing some accommodation." Goldman Sachs has added an October hike to its forecast and Bank of America now sees moves in both October and December. Here is the repricing, the language behind it, and the two data points that decide it.

Author Irene Q.

Sep 23, Wed

Rate futures now price roughly 55% to 62% for a 25bp hike at the October 27-28 FOMC, up from about 30% before Chair Warsh's post-meeting framing that the Fed is merely "removing some accommodation." Goldman Sachs has added an October hike to its forecast and Bank of America now sees moves in both October and December. Here is the repricing, the language behind it, and the two data points that decide it.

Memory chips surge, Nasdaq notches a second straight record close — why the Dow fell 185 points anyway Micron gained 5%, SanDisk 6.8%, Seagate 4% and Western Digital 3% as the memory complex led the Nasdaq Composite to a second consecutive record close of 27,244.28. But the Dow fell 185 points as JPMorgan, Wells Fargo and Schwab slid more than 3% each — a split tape that says more about positioning than about the economy.

Author Irene Q.

Sep 23, Wed

Micron gained 5%, SanDisk 6.8%, Seagate 4% and Western Digital 3% as the memory complex led the Nasdaq Composite to a second consecutive record close of 27,244.28. But the Dow fell 185 points as JPMorgan, Wells Fargo and Schwab slid more than 3% each — a split tape that says more about positioning than about the economy.

US input costs rose at the fastest pace in four years — the September flash PMI beat is an inflation story, not a growth story US September flash PMIs came in far above expectations, with the composite at 58.4, a five-year high. But the detail that moved markets was input cost inflation at its fastest since October 2022, driven by fuel, transport and supply shortages. Brent is back above $100 and the 10-year Treasury yield has hit its highest since 2007.

Author Suzie

Sep 24, Thu

US September flash PMIs came in far above expectations, with the composite at 58.4, a five-year high. But the detail that moved markets was input cost inflation at its fastest since October 2022, driven by fuel, transport and supply shortages. Brent is back above $100 and the 10-year Treasury yield has hit its highest since 2007.

WTI (USOIL) Is down 2.03% on Sep 25: Here Is Why WTI (USOIL) is down 2.03% at Sep 24 22:20(UTC+0), now at $92.517, with a 7-day down of 3.63%.What is driving WTI (USOIL)’s stock price down today?The drop in WTI crude oil prices was primarily driven by

Author TradingKey

Sep 25, Fri

WTI (USOIL) is down 2.03% at Sep 24 22:20(UTC+0), now at $92.517, with a 7-day down of 3.63%.What is driving WTI (USOIL)’s stock price down today?The drop in WTI crude oil prices was primarily driven by

Popular Symbols