Bloomberg Analyst Warns of Crypto Bubble Burst by 2026

Bloomberg Intelligence has released an updated forecast on Bitcoin's price outlook by Senior Strategist Mike McGlone. According to McGlone, the $10,000 level is a crucial threshold for Bitcoin, representing both a psychological mark and a natural mean based on mathematical regression analysis.

The analyst attributes the anomalous growth of 2020-2021 to the 'greatest monetary expansion in history,' leading to excess liquidity. As this excess liquidity has left the markets, McGlone believes that BTC may gravitate towards its fundamental anchor, which stands at $10,000.