Bitcoin
price (BTC) as of today (Tuesday), April 8, 2025, falls below the key support
of $80,000, continuing its steep decline from a $109,00 peak earlier this year.
Yet, the crypto community is buzzing over a dire warning from Bloomberg Senior
Commodity Strategist Mike McGlone: Bitcoin could crash to $10,000, a level last
seen in 2020.
“In 2020,
Bitcoin was at 10,000. It was only a few years ago. I think it’s going back
there,” McGlone told in recent interview. This bold prediction raises important
questions: How low can Bitcoin go? What’s driving this potential plunge? And
how should you protect your portfolio?
In this
comprehensive guide, we’ll unpack McGlone’s bearish outlook, explore the forces
tanking crypto in 2025, and offer practical insights for retail investors. By
blending financial theory, real-world examples, and answers to common
questions, we’ll help you make sense of Bitcoin’s volatility and chart a path
forward.
Mike
McGlone’s forecast isn’t mere speculation—it’s rooted in his decades of market
analysis. In his Cointelegraph interview, he painted a grim picture for
Bitcoin and the crypto market.
“The whole
space needs purging just like the dot-com bubble did. It’s getting it in 2020,”
he said, drawing parallels to the early 2000s tech crash. His $10,000
call hinges on several key arguments:
- Speculative Excess – McGlone sees rampant
overhype in crypto, spotlighting assets like Dogecoin: “Dogecoin still has
$20 billion in market cap. It’s basically a joke. It should go to zero.”
For retail investors, this suggests Bitcoin’s price may be propped up by
unsustainable enthusiasm rather than intrinsic value. - Macroeconomic Reset – He ties Bitcoin’s fate to a
broader market correction, intensified by U.S. policy shifts. “We’re in a
bear market in cryptos. We’re in a bear market in the stock market,” he
noted, contrasting this with bull markets in bonds and gold. - Bitcoin’s “Digital Gold” Myth – McGlone challenges Bitcoin’s
safe-haven status: “Bitcoin is proving anybody who bought ETFs is learning
the hard way. They did not find digital gold. They bought more of a value
of leveraged beta. That’s a fact.” This critique resonates as gold surges
16% in 2025 while Bitcoin drops 20%. - Mean Reversion – Reflecting on Bitcoin’s
rally from $10,000 in 2020 to over $100,000, McGlone predicts a rollback:
“We do a little mean reversion… I think it’s going back there.” For retail
investors, this signals a potential correction to historical norms.
Why Is Bitcoin Going Down in
2025? Wall Street, Tariffs, and More
McGlone’s
prediction doesn’t exist in a vacuum—crypto markets are buckling under a
perfect storm of pressures in 2025. Here’s a deeper look at why Bitcoin and its
peers are struggling, with insights for retail investors.
Wall Street’s Risk-Off
Mood
Wall
Street’s retreat from risk assets is a major driver. The
S&P 500, a bellwether for investor sentiment, has slid 6% from its 2025
peak, with McGlone warning it may not stabilize until around 4,000.
“The stock
market has grown disproportionately large relative to the U.S. economy,” he
told Cointelegraph, citing a market cap-to-GDP ratio of 2.2—well above its
historical 1.5 average.
As Wall
Street sheds overvalued stocks, Bitcoin, a high-beta asset tied to equity
trends, feels the heat. Retail investors who piled into Bitcoin ETFs alongside
tech stocks are now facing double jeopardy.
What does HODL stand for? Everyone’s in for the long-term, as long as it’s going up. Did not know how #Bitcoin was going to get to $100,000 from $10,000 in 2020, but the trends showed up. Now, I see the reversion path back toward $10,000. The technology is awesome as evidenced by…
— Mike McGlone (@mikemcglone11) April 6, 2025
Trump’s Tariff Wars
U.S.
President Donald Trump’s aggressive
tariff policies are roiling global markets, and crypto isn’t immune.
“Trump’s
tilt put in the top,” McGlone said, suggesting that trade wars sparked by his
January 2025 inauguration triggered crypto’s downturn.
Tariffs on
imports—potentially exceeding 60% on Chinese goods—threaten to slow global
trade, reduce liquidity, and push investors toward safe havens like gold.
“The U.S.
just cutting off the dependence of the rest of the world exporting to the U.S.
for gaining wealth” is a seismic shift, he added. For retail investors, this
means Bitcoin’s “global currency” appeal could falter as economic uncertainty
mounts.
Liquidity Crunch and Fed
Inaction
Unlike the
2020 COVID crash, where the Federal Reserve pumped trillions into markets, 2025
offers no such lifeline.
“The Fed
can’t ease anymore. They’re out of the picture,” McGlone warned, noting that
sticky inflation from 2024’s $12 trillion stock market wealth boom has tied the
Fed’s hands.
Without
rate cuts or stimulus, crypto lacks the fuel that drove its post-2020 recovery.
Retail investors banking on a “V-shaped” rebound may be disappointed.
Overvaluation and Crypto
Saturation
The crypto
market’s sheer size—over 13,000 coins—breeds instability. McGlone highlighted
Ethereum’s drop from $4,000 to $1,500 and predicted it could hit $1,000,
flipping with Tether in market cap rankings.
“There’s
excess supply and speculative excesses in this space, akin to things I’ve never
seen before,” he said. For retail investors, this glut dilutes Bitcoin’s
dominance, making it vulnerable to a sector-wide purge.
Flight to Traditional Safe
Havens
Gold’s
16% rise in 2025 underscores a shift away from speculative assets. “The
Bitcoin-to-gold ratio is what, 27x or something? It’s going back to ten,”
McGlone predicted, recalling its level a few years ago. Retail investors who
bought Bitcoin as “digital gold” may pivot to physical gold, accelerating BTC’s
decline.
How Low Can Bitcoin Go?
Historical Context and Technical Analysis
McGlone’s
“mean reversion” argument aligns with financial theory—prices revert to their
long-term average after extremes. Bitcoin’s 80%+ annualized volatility supports
this, making a crash plausible for retail investors to brace for.
Bitcoin’s past offers clues:
- 2017–2018:
A 84% drop from $20,000 to $3,200. - 2022: A 70% plunge from $69,000 to
$16,000 post-FTX. An 88% fall to $10,000 from $80,000 fits this pattern,
though it’s steeper than recent corrections.
From a
technical analysis perspective, my assessment suggests that although Bitcoin
has dipped below the psychological support level of $80,000, it has found
support at this year’s lows, located slightly lower. Monday’s strong bullish
reaction and the absorption of the $74,500 lows demonstrated that buyers aren’t
ready to surrender control to the bears just yet.
Technical Analysis of Bitcoin’s Chart. Source: Tradingview.com
If this
current level holds, I believe Bitcoin is unlikely to face sharper declines in
the near term. However, a breakdown below this point would pave the way for the
next critical support zones:
- $70,000–$74,000
zone: This range
represents the highs drawn from March to August 2024, which previously acted as
a significant resistance area. - $59,000: The lows from October of last
year. - $53,500: The lows from July to September,
which marked the starting point of the most recent rally.
You may
also like:Will Bitcoin
Crash? New BTC Price Prediction Targets $52K After Trump’s Tariffs
Why Bitcoin Might Hold Up?
Not
everyone shares McGlone’s gloom. Bullish
analysts argue Bitcoin could soar in 2025, driven by the April 2024 halving
(reducing mining rewards to 3.125 BTC), institutional adoption, and ETF
inflows. Companies like MicroStrategy continue stockpiling BTC, while retail
ETF flows—80% of which come from self-directed investors—signal resilience.
Below is a table of bullish Bitcoin price predictions for 2025, offering a
stark contrast to McGlone’s view:
Bitcoin Price Prediction 2025
Table
|
Source |
2025 Price Prediction |
Key Drivers |
|
Bernstein |
$200,000 |
Institutional |
|
Standard Chartered |
$200,000–$250,000 |
Rapid |
|
Bitfinex |
$145,000–$200,000 |
Historical |
|
H.C. Wainwright & Co. |
$225,000 |
Spot ETF |
|
$350,000 |
Bitcoin |
These
forecasts hinge on optimism around regulatory clarity (e.g., Trump’s proposed
Bitcoin reserve), ETF momentum, and Bitcoin’s scarcity. While McGlone sees a
purge, bulls argue the halving’s supply squeeze and growing mainstream
acceptance could propel BTC to new heights.
Mike
McGlone’s $10,000 Bitcoin call—“I think it’s going back there”—is a stark
warning fueled by Wall Street’s retreat, Trump’s tariffs, and crypto’s
excesses. For retail investors, it’s a call to vigilance, not panic. Bitcoin’s
volatility is its hallmark, and while a crash is possible, so is a rebound.
Diversify, stay informed, and weigh McGlone’s macro lens against crypto’s
resilient history. Whether Bitcoin sinks or swims, your strategy will define
your success.
Bitcoin price Prediction,
FAQ
How Low Is Bitcoin Going
to Drop?
No one
knows for sure, but McGlone’s $10,000 call—an 88% drop from $80,000—reflects a
severe correction. “I think it’s going back there,” he said, based on macro
pressures and crypto’s bubble-like traits. Historically, Bitcoin’s worst falls
range from 70% to 92%, so $10,000 is within reach but not guaranteed.
How Much Will 1 Bitcoin Be
Worth in 2025?
Predictions
vary wildly. McGlone sees $10,000, but bulls like Bernstein forecast $200,000,
driven by halving effects and ETF demand. “Putting price and time together is
very difficult,” McGlone admitted. Your guess depends on whether tariff wars
and Wall Street woes outweigh crypto’s resilience—expect volatility either way.
What If I Bought $1 of
Bitcoin 10 Years Ago?
Ten years
ago, in April 2015, Bitcoin averaged $250. A $1 investment would’ve bought
0.004 BTC. At today’s $80,000, that’s $320—a 320x return. Even if it drops to
McGlone’s $10,000, your $1 would still be $40, far outpacing most assets. This
highlights Bitcoin’s long-term potential despite short-term dips.
Is It Worth Having $100 in
Bitcoin?
Yes, if
you’re risk-tolerant. At $80,000, $100 buys 0.00125 BTC. If it hits $10,000,
that’s $12.50—a loss—but if it climbs to $120,000 (a past peak), it’s $150.
“There’s going to be decent volatility, a lot of trading opportunities,”
McGlone noted. For retail investors, $100 is a low-stakes way to dip in,
provided you’re ready for swings.
Should I Sell My Bitcoin
Now?
McGlone’s
view isn’t gospel. “I’ll stick with that view and I’m willing to eat it if I’m
wrong,” he admitted. If you’re in for the long haul, holding through volatility
has paid off historically—e.g., BTC’s 2023 rebound to $69,000.
Is Bitcoin Still “Digital
Gold”?
“We’re
finding out the hard way in the macro,” McGlone said, pointing to gold’s
outperformance. Yet, Bitcoin’s scarcity (21 million coins) retains appeal
during inflation spikes—watch macro trends to judge its role.
Bitcoin
price (BTC) as of today (Tuesday), April 8, 2025, falls below the key support
of $80,000, continuing its steep decline from a $109,00 peak earlier this year.
Yet, the crypto community is buzzing over a dire warning from Bloomberg Senior
Commodity Strategist Mike McGlone: Bitcoin could crash to $10,000, a level last
seen in 2020.
“In 2020,
Bitcoin was at 10,000. It was only a few years ago. I think it’s going back
there,” McGlone told in recent interview. This bold prediction raises important
questions: How low can Bitcoin go? What’s driving this potential plunge? And
how should you protect your portfolio?
In this
comprehensive guide, we’ll unpack McGlone’s bearish outlook, explore the forces
tanking crypto in 2025, and offer practical insights for retail investors. By
blending financial theory, real-world examples, and answers to common
questions, we’ll help you make sense of Bitcoin’s volatility and chart a path
forward.
Mike
McGlone’s forecast isn’t mere speculation—it’s rooted in his decades of market
analysis. In his Cointelegraph interview, he painted a grim picture for
Bitcoin and the crypto market.
“The whole
space needs purging just like the dot-com bubble did. It’s getting it in 2020,”
he said, drawing parallels to the early 2000s tech crash. His $10,000
call hinges on several key arguments:
- Speculative Excess – McGlone sees rampant
overhype in crypto, spotlighting assets like Dogecoin: “Dogecoin still has
$20 billion in market cap. It’s basically a joke. It should go to zero.”
For retail investors, this suggests Bitcoin’s price may be propped up by
unsustainable enthusiasm rather than intrinsic value. - Macroeconomic Reset – He ties Bitcoin’s fate to a
broader market correction, intensified by U.S. policy shifts. “We’re in a
bear market in cryptos. We’re in a bear market in the stock market,” he
noted, contrasting this with bull markets in bonds and gold. - Bitcoin’s “Digital Gold” Myth – McGlone challenges Bitcoin’s
safe-haven status: “Bitcoin is proving anybody who bought ETFs is learning
the hard way. They did not find digital gold. They bought more of a value
of leveraged beta. That’s a fact.” This critique resonates as gold surges
16% in 2025 while Bitcoin drops 20%. - Mean Reversion – Reflecting on Bitcoin’s
rally from $10,000 in 2020 to over $100,000, McGlone predicts a rollback:
“We do a little mean reversion… I think it’s going back there.” For retail
investors, this signals a potential correction to historical norms.
Why Is Bitcoin Going Down in
2025? Wall Street, Tariffs, and More
McGlone’s
prediction doesn’t exist in a vacuum—crypto markets are buckling under a
perfect storm of pressures in 2025. Here’s a deeper look at why Bitcoin and its
peers are struggling, with insights for retail investors.
Wall Street’s Risk-Off
Mood
Wall
Street’s retreat from risk assets is a major driver. The
S&P 500, a bellwether for investor sentiment, has slid 6% from its 2025
peak, with McGlone warning it may not stabilize until around 4,000.
“The stock
market has grown disproportionately large relative to the U.S. economy,” he
told Cointelegraph, citing a market cap-to-GDP ratio of 2.2—well above its
historical 1.5 average.
As Wall
Street sheds overvalued stocks, Bitcoin, a high-beta asset tied to equity
trends, feels the heat. Retail investors who piled into Bitcoin ETFs alongside
tech stocks are now facing double jeopardy.
What does HODL stand for? Everyone’s in for the long-term, as long as it’s going up. Did not know how #Bitcoin was going to get to $100,000 from $10,000 in 2020, but the trends showed up. Now, I see the reversion path back toward $10,000. The technology is awesome as evidenced by…
— Mike McGlone (@mikemcglone11) April 6, 2025
Trump’s Tariff Wars
U.S.
President Donald Trump’s aggressive
tariff policies are roiling global markets, and crypto isn’t immune.
“Trump’s
tilt put in the top,” McGlone said, suggesting that trade wars sparked by his
January 2025 inauguration triggered crypto’s downturn.
Tariffs on
imports—potentially exceeding 60% on Chinese goods—threaten to slow global
trade, reduce liquidity, and push investors toward safe havens like gold.
“The U.S.
just cutting off the dependence of the rest of the world exporting to the U.S.
for gaining wealth” is a seismic shift, he added. For retail investors, this
means Bitcoin’s “global currency” appeal could falter as economic uncertainty
mounts.
Liquidity Crunch and Fed
Inaction
Unlike the
2020 COVID crash, where the Federal Reserve pumped trillions into markets, 2025
offers no such lifeline.
“The Fed
can’t ease anymore. They’re out of the picture,” McGlone warned, noting that
sticky inflation from 2024’s $12 trillion stock market wealth boom has tied the
Fed’s hands.
Without
rate cuts or stimulus, crypto lacks the fuel that drove its post-2020 recovery.
Retail investors banking on a “V-shaped” rebound may be disappointed.
Overvaluation and Crypto
Saturation
The crypto
market’s sheer size—over 13,000 coins—breeds instability. McGlone highlighted
Ethereum’s drop from $4,000 to $1,500 and predicted it could hit $1,000,
flipping with Tether in market cap rankings.
“There’s
excess supply and speculative excesses in this space, akin to things I’ve never
seen before,” he said. For retail investors, this glut dilutes Bitcoin’s
dominance, making it vulnerable to a sector-wide purge.
Flight to Traditional Safe
Havens
Gold’s
16% rise in 2025 underscores a shift away from speculative assets. “The
Bitcoin-to-gold ratio is what, 27x or something? It’s going back to ten,”
McGlone predicted, recalling its level a few years ago. Retail investors who
bought Bitcoin as “digital gold” may pivot to physical gold, accelerating BTC’s
decline.
How Low Can Bitcoin Go?
Historical Context and Technical Analysis
McGlone’s
“mean reversion” argument aligns with financial theory—prices revert to their
long-term average after extremes. Bitcoin’s 80%+ annualized volatility supports
this, making a crash plausible for retail investors to brace for.
Bitcoin’s past offers clues:
- 2017–2018:
A 84% drop from $20,000 to $3,200. - 2022: A 70% plunge from $69,000 to
$16,000 post-FTX. An 88% fall to $10,000 from $80,000 fits this pattern,
though it’s steeper than recent corrections.
From a
technical analysis perspective, my assessment suggests that although Bitcoin
has dipped below the psychological support level of $80,000, it has found
support at this year’s lows, located slightly lower. Monday’s strong bullish
reaction and the absorption of the $74,500 lows demonstrated that buyers aren’t
ready to surrender control to the bears just yet.
Technical Analysis of Bitcoin’s Chart. Source: Tradingview.com
If this
current level holds, I believe Bitcoin is unlikely to face sharper declines in
the near term. However, a breakdown below this point would pave the way for the
next critical support zones:
- $70,000–$74,000
zone: This range
represents the highs drawn from March to August 2024, which previously acted as
a significant resistance area. - $59,000: The lows from October of last
year. - $53,500: The lows from July to September,
which marked the starting point of the most recent rally.
You may
also like:Will Bitcoin
Crash? New BTC Price Prediction Targets $52K After Trump’s Tariffs
Why Bitcoin Might Hold Up?
Not
everyone shares McGlone’s gloom. Bullish
analysts argue Bitcoin could soar in 2025, driven by the April 2024 halving
(reducing mining rewards to 3.125 BTC), institutional adoption, and ETF
inflows. Companies like MicroStrategy continue stockpiling BTC, while retail
ETF flows—80% of which come from self-directed investors—signal resilience.
Below is a table of bullish Bitcoin price predictions for 2025, offering a
stark contrast to McGlone’s view:
Bitcoin Price Prediction 2025
Table
|
Source |
2025 Price Prediction |
Key Drivers |
|
Bernstein |
$200,000 |
Institutional |
|
Standard Chartered |
$200,000–$250,000 |
Rapid |
|
Bitfinex |
$145,000–$200,000 |
Historical |
|
H.C. Wainwright & Co. |
$225,000 |
Spot ETF |
|
$350,000 |
Bitcoin |
These
forecasts hinge on optimism around regulatory clarity (e.g., Trump’s proposed
Bitcoin reserve), ETF momentum, and Bitcoin’s scarcity. While McGlone sees a
purge, bulls argue the halving’s supply squeeze and growing mainstream
acceptance could propel BTC to new heights.
Mike
McGlone’s $10,000 Bitcoin call—“I think it’s going back there”—is a stark
warning fueled by Wall Street’s retreat, Trump’s tariffs, and crypto’s
excesses. For retail investors, it’s a call to vigilance, not panic. Bitcoin’s
volatility is its hallmark, and while a crash is possible, so is a rebound.
Diversify, stay informed, and weigh McGlone’s macro lens against crypto’s
resilient history. Whether Bitcoin sinks or swims, your strategy will define
your success.
Bitcoin price Prediction,
FAQ
How Low Is Bitcoin Going
to Drop?
No one
knows for sure, but McGlone’s $10,000 call—an 88% drop from $80,000—reflects a
severe correction. “I think it’s going back there,” he said, based on macro
pressures and crypto’s bubble-like traits. Historically, Bitcoin’s worst falls
range from 70% to 92%, so $10,000 is within reach but not guaranteed.
How Much Will 1 Bitcoin Be
Worth in 2025?
Predictions
vary wildly. McGlone sees $10,000, but bulls like Bernstein forecast $200,000,
driven by halving effects and ETF demand. “Putting price and time together is
very difficult,” McGlone admitted. Your guess depends on whether tariff wars
and Wall Street woes outweigh crypto’s resilience—expect volatility either way.
What If I Bought $1 of
Bitcoin 10 Years Ago?
Ten years
ago, in April 2015, Bitcoin averaged $250. A $1 investment would’ve bought
0.004 BTC. At today’s $80,000, that’s $320—a 320x return. Even if it drops to
McGlone’s $10,000, your $1 would still be $40, far outpacing most assets. This
highlights Bitcoin’s long-term potential despite short-term dips.
Is It Worth Having $100 in
Bitcoin?
Yes, if
you’re risk-tolerant. At $80,000, $100 buys 0.00125 BTC. If it hits $10,000,
that’s $12.50—a loss—but if it climbs to $120,000 (a past peak), it’s $150.
“There’s going to be decent volatility, a lot of trading opportunities,”
McGlone noted. For retail investors, $100 is a low-stakes way to dip in,
provided you’re ready for swings.
Should I Sell My Bitcoin
Now?
McGlone’s
view isn’t gospel. “I’ll stick with that view and I’m willing to eat it if I’m
wrong,” he admitted. If you’re in for the long haul, holding through volatility
has paid off historically—e.g., BTC’s 2023 rebound to $69,000.
Is Bitcoin Still “Digital
Gold”?
“We’re
finding out the hard way in the macro,” McGlone said, pointing to gold’s
outperformance. Yet, Bitcoin’s scarcity (21 million coins) retains appeal
during inflation spikes—watch macro trends to judge its role.
