Bloomberg’s senior strategist Mike McGlone reminded everyone today that Bitcoin was born out of the 2008 Great Recession, which also opened the door for millions of other cryptocurrencies.
👉 McGlone highlighted that there are now around 20 million coins listed on CoinMarketCap. However, he warned that Bitcoin, currently at $110,000, could crash all the way down to $10,000 as part of a “normal market reversion.”
📉 He shared a chart comparing Bitcoin, gold, and the S&P 500, suggesting BTC is overstretched against gold and equities, forming a potential bubble-like setup.
⚖️ McGlone also noted that the Bitcoin-to-gold ratio (currently 35:1) might slip to 25:1, signaling $BTC could lose some strength versus gold.
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💥 On the other hand, billionaire investor Tim Draper is still extremely bullish. In a tweet yesterday, he reaffirmed his $250,000 target for $BTC
before the end of 2025.
🔥 Draper believes institutional FOMO will drive this surge, as banks and corporations rush to secure $BTC holdings.
His bold statement:
👉 “It’s becoming irresponsible NOT to own Bitcoin.”
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⚡ So the big question: Will Bitcoin collapse to $10K,
or moonshot to $250K?
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