Bitcoin price will fall to $10,000 as crypto ‘bubble is imploding,’ warns Bloomberg analyst

The cryptocurrency market “bubble is imploding” with Bitcoin’s price set to tumble another 85% to $10,000, warns Bloomberg Intelligence strategist Mike McGlone. While traders may talk about a healthy correction, McGlone says the narrative around crypto is changing for a number of reasons. “The buy-the-dip-mantra since 2008 may be over,” he wrote. The factors include surging stock markets with low volatility and the industry losing faith in US President Donald Trump’s crypto boosterism. At the same time ...