Will Bitcoin Price Crash To $10,000? Bloomberg Expert Reveals When

Many analysts have weighed on the potential trajectory of the flagship cryptocurrency, Bitcoin. This time, Bloomberg analyst Mike McGlone has highlighted the possibility of Bitcoin price declining further and when this could happen. Bitcoin Price Could Decline Further In a tweet on his X (formerly Twitter) platform, McGlone noted that Bitcoin risks declining to $10,000 (which could happen by year-end) as it continues to battle the $30,000 resistance level.  This resistance level has long been touted as the key to a sustained breakout in Bitcoin’s price. However, going by the analysis that McGlone shared, the odds seem to be against this happening.  Bitcoin has risen significantly in 2023, considering that the crypto asset traded at around $16,000 at the beginning of the year. But, McGlone warned that this may be a “short-covering rally.” As part of this analysis, he noted that liquidity in the Bitcoin ecosystem remained negative heading into the fourth quarter. This ultimately means there is more selling pressure than buying pressure, which could affect Bitcoin’s price.  Another factor is the rising interest rates. McGlone noted that ..

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