Bloomberg Analyst: Bitcoin Could Plummet 88% to $10,000 by 2026

Jinse Finance reported that Bloomberg Intelligence Senior Commodity Strategist Mike McGlone has warned that the price of bitcoin faces the risk of plummeting 88% to $10,000, and is expected to reach this level in 2026. McGlone stated on LinkedIn that a breakout of bitcoin above $100,000 could trigger a cycle that pulls back to $10,000. He described the current environment as a "post-inflationary deflation" period, believing that the reversal of wealth creation will drive the next economic recession, mainly caused by the collapse of highly speculative, unlimited supply digital assets. Currently, the price of bitcoin is fluctuating around $90,000, down 30% from the all-time high of $126,000 set in October.