As per DL News, Bloomberg Intelligence senior commodity strategist Mike McGlone warned that Bitcoin's price could collapse 90% from its $126,000 peak to $10,000 by 2026. He described the potential downturn as part of a 'post-inflation deflation' cycle, drawing parallels to the 2008 financial crisis. Bitcoin is currently trading near $90,000, down 30% from its October high and 13% year-to-date. McGlone previously predicted a drop to $50,000 in November. Recent data shows $230 million in Bitcoin long liquidations and $287 million in ETF inflows following a $3.5 billion selloff in November.
Bloomberg Analyst Predicts Bitcoin Could Drop 90% to $10,000 by 2026
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Summary
Bitcoin news: Bloomberg Intelligence’s Mike McGlone warned the crypto could fall 90% to $10,000 by 2026, citing a post-inflation deflation cycle. Bitcoin now trades near $90,000, down 30% from its October peak. Recent data shows $230 million in long liquidations and $287 million in ETF inflows after a $3.5 billion selloff in November. Altcoins to watch may see ripple effects if Bitcoin continues to decline.
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