Bloomberg senior strategist Mike McGlone has renewed a stark prediction for Bitcoin (BTC), arguing that the market’s leading cryptocurrency could resume a prolonged decline that takes it back toward $10,000. Why McGlone Sees Bitcoin Heading Back To $10K In a Thursday post on social media platform X (previously Twitter), McGlone framed the $10,000 level as a long-standing reference point for Bitcoin: it was a common trading price before the 2020–21 rally and has been among the most frequently traded levels since futures began trading in 2017. McGlone’s view, which he describes as a “bursting crypto bubble” scenario, is a minority stance among market analysts who predict a Bitcoin bottom this year as low as $38,000 in the worst scenario—much higher than the Bloomberg strategist’s price point. Related Reading: What April Could Mean For XRP: Past Patterns And Key Price Catalysts To Watch If Bitcoin were to fall from its current trading price to $10,000, the move would represent a roughly 92% drop, taking into account the retrace already seen from its all-time high of $126,000