Bitcoin $BTC may fall to $10,000, said Bloomberg Intelligence senior commodity strategist Mike McGlone.
McGlone reminded that it was #Strategy that initiated the bitcoin rally in 2020 when the asset price was around $10,000. However, the expert believes that the main drivers have already played their part.
He noted that a significant portion of the events that the market had pinned its hopes on have already occurred, including the launch of #ETF , the recognition of Bitcoin's advantages by US leaders, and its broader mass adoption.
The expert also pointed to the overall situation in the industry, noting that currently 28 million cryptocurrencies are represented on CoinMarketCap compared to just one in 2009. In this regard, McGlone believes that bitcoin may again decrease to previous levels around $10,000. Earlier, this analyst predicted a decrease #BTC to $50,000.
