Bloomberg Strategist Mike McGlone Says Bitcoin Could Crash by Nearly 40% After FTX Fiasco – Here’s the Timeline

Bloomberg Strategist Mike McGlone Says Bitcoin Could Crash by Nearly 40% After FTX Fiasco – Here’s the Timeline


Bloomberg Intelligence senior macro strategist Mike McGlone predicts that Bitcoin (BTC) could fall to levels last seen in July 2020.

McGlone says that Bitcoin could fall by 39% from the current price and revisit the $10,000 support level over the coming weeks.

The macro strategist says that the crypto selloff witnessed this week has underlined the headwinds facing risk assets going forward.

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“The breakdown of Bitcoin and crypto assets may trigger capitulation sell stops in most markets that have been under pressure this year.

The great risk-asset reversion of 2022 has become clear as of November 9, but it’s the remaining trading sessions that may set the stage for 2023, with Bitcoin – one of the fastest horses in the race, and top leading indicator

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