Markets· ★★· bearish·

Bloomberg strategist calls Bitcoin a bad investment, says it's at 2017 peak level versus Nasdaq-100

  • —McGlone: Bitcoin is 3x more volatile than Nasdaq-100 but hasn't outperformed since 2017
  • —Strategist repeated his 2025 forecast of Bitcoin falling back to $10,000
  • —McGlone criticized the glut of crypto assets, saying capital is spread too thin
  • —He had correctly predicted Bitcoin would reach $100,000 back in 2020
Why it matters: The call from a prominent Bloomberg analyst adds to bearish rhetoric as investors debate whether Bitcoin's rally can continue.
#BTC
Source: Livecoins
More on this
Markets · Sep 23
Bloomberg Strategist McGlone: $60,000 Bitcoin Bottom 'Unlikely'
 Macro · Sep 18
Bloomberg strategist: 5% US Treasury yields are a reason to sell bitcoin and gold
 Markets · Sep 28
Bloomberg analyst says crypto has underperformed for nearly a decade and its peak has passed