Bitcoin Faces Potential Price Revision: Analyst Warns of Possible Crash to $10,000
Bitcoin's bull run might be heading for a classic market correction—and one analyst sees a staggering drop ahead.
The Normal Pullback That Isn't Normal
Every parabolic move needs a breather. Markets don't climb forever. But what if the next cooldown isn't a gentle 20% dip? One voice in the crypto-sphere is mapping a far steeper path down.
Reading the Charts, Fearing the Floor
Technical analysis points to key support levels being tested. When those fail, the fall can be rapid. The analyst's $10,000 target isn't plucked from thin air—it's a calculated revisit to a previous cycle's consolidation zone, a level the market has respected before.
Volatility Is the Feature, Not the Bug
This is crypto, after all. Wild swings define the asset class. A drop to $10,000 would be brutal for recent buyers but a dream for long-term accumulators. It's the kind of shakeout that separates diamond hands from paper portfolios.
The Finance World Watches (And Scoffs)
Traditional finance veterans will nod sagely, muttering 'told you so' about speculative bubbles—conveniently forgetting their own history with dot-com busts and mortgage meltdowns. A cynic might say Wall Street only hates volatility it can't control.
Whether this revision plays out or not, the warning is clear: strap in. The crypto ride is never smooth, and sometimes the only way forward is a gut-wrenching drop back.
Bitcoin Could Face a Major But Normal Correction, Might Fall to $10,000
Senior Bloomberg commodity analyst Mike McGlone warned on Sunday that bitcoin could fall to $10,000. He explained that the correction could be normal, and BTC cannot hold on for long below $100,000. He warned that Bitcoin could first fall to $50,000 that could lead to a string of sell-offs.
The domino effect could get worse when institutional clients make away with their ETF investments. This could be the final straw for Bitcoin, sending it down to the $10,000 range, he said.McGlone wrote on X, highlighting a chart that BTC could go from $95,000 to $10,000 next.
What To Do Next?
The warning is dire as the prediction estimates a decline of close to 90%. The entire cryptocurrency market would be majorly hit if the scenario plays out. However, there’s a silver lining in all of these, as many other analysts had recently projected Bitcoin to fall 90%. Nonetheless, the leading cryptocurrency only soared in the charts, rewarding investors.
HEX and PulseChain founder Richard Heart had also predicted Bitcoin to crash to $10,000. Gold proponent Peter Schiff has been repeatedly calling for the same for two years. Mike McGlone has now joined the bandwagon of the doomsday predictions. Since nine of these predictions turned out to be accurate, the chances of BTC remaining steady in the charts are high.
