'A Hurricane Coming': Bitcoin Could Fall to $10K This Year, Says Bloomberg Analyst [Yahoo! Finance]
CME Group Inc. - Class A (CME)
Last cme group inc. - class a earnings: 4/29 07:00 am
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Source: Yahoo! Finance
In a LinkedIn post , McGlone posited that “the biggest money pump in history may be unwinding,” with the digital asset poised to fall to what would be its lowest price since July 2020—a milestone that Bitcoin crossed approximately 69 months ago. With Bitcoin changing hands around $70,000 on Monday, the digital asset's price would need to plummet more than 85% to reach $10,000, according to CoinGecko . If Bitcoin were valued at that price today, its market capitalization would be close to $200 billion. McGlone acknowledged that Bitcoin could prove him wrong if it manages to stay above $75,000, describing that level as a key threshold. Last month, the digital asset jumped to $75,600 amid heightened geopolitical tensions before retreating. In his post, McGlone noted that $10,000 is Bitcoin's “most traded price since 2017,” when regulated futures were introduced by Cboe and CME Group in the U.S. He noted that myriad cryptocurrencies, “with only a few tracking tangible value,” have
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