McGlone on Bitcoin's Price Reversal

Bloomberg’s chief commodity strategist Mike McGlone shared insights on the recent Bitcoin price drop on the X social media network, noting it fell well below its previous high of $108,268, currently trading under $94,000.

McGlone Clarifies Bitcoin's Reversal

McGlone emphasized that the downturn isn't limited to Bitcoin but also affects gold and other risk assets, with Bitcoin experiencing the most significant decline due to its high volatility. He compared this to the S&P 500 index, which has not seen major declines in Q4 of this year. However, he indicated that this trend may not continue into 2025. Regarding Bitcoin’s current drop, he attributed it to “normal reversion,” observing it decreased by 2.45%, from $96,275 to $93,660, and has lost about 14% over the past week.

Kiyosaki on Economic Crash and Bitcoin

Meanwhile, renowned investor Robert Kiyosaki tweeted about the global economic downturn he predicts, advising his followers to manage their finances wisely. He asserted that despite economic fluctuations, “gold, silver, and Bitcoin hold their value” and pointed out that market crashes can present rich opportunities for savvy investors.