Bloomberg Intelligence Senior Commodity Strategist Mike McGlone suggests that both Bitcoin and Dogecoin might be facing a major price drop. He analyzed their movements over the past year, comparing them to each other and to gold, finding similarities in their patterns. 2023 saw similar surges for Bitcoin and Dogecoin, followed by a subsequent decline. This pattern raises concerns about a possible bearish trend in the near future. 2024’s price trends indicate that both assets are currently supported by long-term upward trends, but McGlone believes this support will not hold for long. He anticipates the bear market to intensify with the possibility of significant price drops as fears of a recession materialize. His analysis suggests that recent crypto price rallies may not be a sign of a bullish turn but rather a short break before further declines.