Bloomberg Intelligence Strategist Says Bitcoin Could Fall to $10,000 if US Stocks Drop
Bitcoin could fall to around $10,000 if a sharp decline in the US stock market coincides with further weakness, according to Bloomberg Intelligence.On October 16, Bloomberg Intelligence strategist Mike McGlone warned that Bitcoin could drop to near $10,000 if the US stock market falls 20%.McGlone tied the prospect of deeper losses in US equities to the risk of further declines in Bitcoin.Still, the $10,000 forecast is conditional on a scenario in which the US stock market declines 20%.