BREAKING📊📊🚨
Bitcoin: Will It Fall to $60,000 or $30,000? Mike McGlone Predicts Deflation Will Trigger a Bloodbath📉🏚
If you thought the recent 12% drop was painful enough, Bloomberg senior strategist Mike McGlone just poured cold water on the “$BTC to $100,000” dream. His baseline forecast for 2026? A “major reversal” whose magnitude could dwarf the 2008 financial crisis,McGlone rates deflation risk at 10/10. He argues that after years of excessive expansion, the “wealth effect” is crumbling. Bitcoin isn't acting as a hedge; it's leading the deleveraging process🛑
Support or speed bump? He sees Bitcoin's first major support at $60,000 but warns downside risks extend to $30,000. What about Ethereum? $2,000 is merely a “speed bump” on the road to a potential $1,000 bottom 🚨📉.
Everything hinges on equities. Should the S&P 500 breach 7,000, Magron anticipates stock market volatility surging from 11% to 17%, dragging all risk assets into a plunge Even “Baby Boomer safe-haven assets” won't escape the carnage. Gold prices plummeted from $5,600 to below $4,500 in mere days. If safe-haven assets are crashing, where do you think cryptocurrencies will end up? 🔥🌕