Bloomberg Strategist: Bitcoin is heading towards $10,000, and the risk-reward profile has changed

BlockBeats News, December 17 — Bloomberg Intelligence strategist Mike McGlone stated: “Bitcoin is facing downward pressure, and the price may fall back to around $10,000.” Strategy founder Michael Saylor recently said at the Miami Economic Club event, “We buy Bitcoin with money we can’t afford to lose.” “I admire and respect Mr. Saylor; it was his arrival in 2020 (when Bitcoin was close to $10,000) that drove a tenfold increase in Bitcoin’s price. But many of the things the market was expecting have already happened: the emergence of ETFs, recognition of Bitcoin’s benefits by U.S. leaders, and broader mainstream acceptance. Today, the number of cryptocurrencies listed on CoinMarketCap has reached 28 million, compared to just one in 2009. After successive positive developments, the number of crypto assets has surged, market expectations have been fully digested, and the short-term risk-reward structure has changed.”