Bloomberg Bear Strikes Again: McGlone Predicts Bitcoin Crash to $10K in 2026

An article published by Bitcoin Junkies has brought up more controversy following the publication of an audacious prediction by a senior commodity strategist at Bloomberg Intelligence, Mike McGlone. Under the claim, Bitcoin may fall all the way to $10,000 by 2026 a significant fall, downbride its highs, of recent times, of over $100,000. The author of this article McGlone bases on the historical market cycles stating that the quick rise of Bitcoin is similar to the previous boom-and-bust patterns of the risk assets. His other argument is the weakening of the ratio of Bitcoin to gold, stating that as the market narrows and volatility gains, there is the possibility of a rough correction of speculative assets, particularly in a world where thousands of digital assets are now competing to win capital.

Rational of the $10K Prediction

In his analysis, McGlone likens Bitcoin to gold because, in the case of gold, there is a small number of competitors, while in the case of Bitcoin, the competition in the crypto market continues to grow. In this sense, he states that the dominance of Bitcoin might be diminished in the future and it would be susceptible in the next macro recession. Charts that accompany the post point at long-term patterns between 2016 and 2025, which are positive results in reiterating the fact that when markets reach extreme upside, they usually also experience extreme downfalls.

Although the forecast with the headline-making potential, responses on X were almost all dismissive. Other individuals pointed out that Bitcoin has already experienced numerous 70-80% declines, and it comes back even stronger every time. Another major opposition revolves around spot Bitcoin ETFs that have received tens of billions of dollars in inflows since early 2024. According to its proponents, institutional demand and regulatory clarity coupled with global adoption cause a fundamental shift in the risk profile of Bitcoin as compared to previous cycles.

Fear vs. Fundamentals

In the extreme macro cases, a $10,000 Bitcoin cannot be entirely disqualified, but, according to critics, the predictions disregard the extent to which such a market structure has changed. To this day, the warning of McGlone is another reminder of the volatility of Bitcoin, though on the other hand, it also reflects the fragmented opinion. Bitcoin has traditionally succeeded in the area between irrational prediction and long-term belief, as history has demonstrated.