Bloomberg Intelligence Analyst Says Bitcoin Could Fall to $10,000
Date: 2025-12-17 Author: Henry Casey Categories: CRYPTO PAYMENTS
The possibility of a sharp decline in Bitcoin's price has once again come into focus following comments from Bloomberg Intelligence senior strategist Mike McGlone. McGlone estimates that the flagship cryptocurrency could eventually return to around $10,000, despite recent market optimism. The expert expressed his opinion on the social media platform X, commenting on Strategy co-founder Michael Saylor's speech at the Economic Club of Miami meeting.
The discussion was sparked by Saylor's statement that the company continues to buy Bitcoin using funds the loss of which would not be critical. McGlone recalled that Strategy was one of the key catalysts for the 2020 rally, when Bitcoin was trading around $10,000. However, he noted that the market situation has changed significantly since then.
The analyst believes that most of the positive factors that market participants have been banking on in recent years have already been reflected in the price. Among these, he highlighted the launch of spot ETFs, the public recognition of Bitcoin's advantages by US political and financial leaders, and the gradual adoption of cryptocurrency into mainstream use. McGlone believes that after these events, the market lost significant potential for further sustainable growth.
The strategist paid special attention to the scale of the modern crypto industry. He noted that there are currently approximately 28 million different crypto assets listed on the CoinMarketCap platform, whereas in 2009, only Bitcoin existed. This market dilution, he estimates, increases competition for capital and reduces the uniqueness of the leading cryptocurrency, which could put pressure on its price in the long term.
McGlone's comments sparked a heated debate on X. Platform users questioned his logic, drawing parallels with the gold market. One commentator wondered why the precious metal hasn't returned to its all-time lows after the introduction of ETFs, government recognition, and the legalization of gold ownership. Other participants noted that alternative cryptocurrencies, despite their number, don't pose a serious threat to Bitcoin as a long-term store of value.
It's worth noting that this isn't the first time the Bloomberg Intelligence analyst has made cautious predictions about Bitcoin. McGlone previously predicted a possible price decline to $50,000, calling current levels overvalued. His new assessment only deepened the divisions between those who support continued growth and those who expect a deep correction in the crypto market.
