Bloomberg Analyst Predicts Bitcoin & Dogecoin Decline Despite Recent Gains

Despite recent upward movements, including Bitcoin’s (BTC) surge above $93,000 and altcoins showing significant gains, Bloomberg analyst Mike McGlone believes a decline is imminent. According to his analysis, the current rally represents just a temporary spike in a longer-term bearish market trend. Analyzing Bitcoin and Dogecoin’s movements, McGlone highlights their similar patterns over the past year. This similarity suggests that both assets are susceptible to similar downturns, regardless of recent positive trends.