As reported by BitcoinSistemi, Bloomberg Intelligence strategist Mike McGlone has issued a new prediction that Bitcoin may face additional correction pressure in the medium term, potentially dropping to $50,000. He cited the S&P 500's 120-day volatility approaching its lowest year-end level since 2017 as a key factor increasing risk for assets like Bitcoin. McGlone also noted that the Bitcoin-to-gold ratio could fall from the current 20x to as low as 13x. Earlier in November, he had suggested Bitcoin could drop to $10,000 if the pressure on risky assets continues.
Bloomberg Analyst Predicts Bitcoin Could Drop to $50,000 Amid Market Volatility
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