Bitcoin’s Bleeding Edge: What Happens If the Slide Continues?
Bloomberg’s senior macro strategist, Mike McGlone, has made a bold prediction: “In 2018, I pointed out, when Bitcoin was about 10,000, it was going to drop a zero. I was 70% right, 30% wrong because it went down to 3,000. I’m saying the same thing now. I think it can go back to 10,000. I mean, that includes everything. Going lower, unfortunately, means the stock market. That’s just normal”
The good news is this: nobody truly knows the future of Bitcoin. After moving from $10,000 to more than $120,000, no analyst, no matter how confident, can make an absolute call. Likewise, no one can guarantee that Bitcoin will fall from its current level around $88,000 back to $10,000.
But here is the painful part: when Bitcoin bleeds, it can drag the broader economy along with it. A deep crash could trigger recessionary pressure, punishing even those who never cared about crypto in the first place. And if that happens, governments will likely socialize the pain, bailing out firms to prevent “collateral damage” to the wider economy, while the earlier gains remained privatized.
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Please pay attention. Margin calls are likely to begin early next month, and if this decline continues unchecked, the capital markets could face serious dislocations. The next few weeks will be critical