Crypto Market Crash: Why This May Be Only the Beginning

In this interview, Mike McGlone, Senior Commodity Strategist at Bloomberg Intelligence, discusses the ongoing market turmoil, emphasizing the challenges facing both the crypto space and the global economy. He explores the potential for Bitcoin to drop to $10,000 and examines the prospects for a recovery. McGlone offers a realistic outlook on digital assets, shedding light on the excesses within the crypto market and explaining why a broader market reset may be imminent. 0:00 Intro 0:41 Are we in a crypto bear market? 1:35 Why do you think Bitcoin is headed to $10,000? 4:46 When will the Fed step in to rescue the markets and the economy? 6:54 How can we recognize the market bottom? 7:50 Should Bitcoin’s narrative as 'digital gold' be revisited? 8:52 How is the current downturn different from the 2020 COVID crash? 10:16 Outro Follow COINTELEGRAPH: Website: https://cointelegraph.com/ Telegram: https://t.me/cointelegraph Facebook: https://www.facebook.com/cointelegraph Twitter: https://twitter.com/cointelegraph Mobile app: https://linktr.ee/cointelegraph_mobile Cointelegraph covers everything Bitcoin, bringing you the latest news, prices, breakthroughs, and analysis, with emphasis on expert opinion and commentary from the digital currency community.