Bloomberg’s senior commodity strategist, Mike McGlone, has made a prediction for Bitcoin (BTC) price following its recent drop below $80,000. McGlone argues that as long as asset prices continue to rise, investors will remain optimistic and look towards the long-term. He noted his disbelief at how quickly the BTC price surged from $10,000 to $100,000 in 2020, highlighting market trends as a driving force behind this shift. Now, he anticipates Bitcoin’s price will return to its former level of around $10,000. Notably, McGlone’s stance on Bitcoin has shifted, with recent criticisms of the technology and his preference for Tether, a dollar-pegged stablecoin, being highlighted. In contrast, he believes Tether’s market value will soon overtake Ethereum, the world’s second-largest cryptocurrency. However, McGlone also acknowledges that risk assets may have reached their peak in speculative cycles, particularly due to new tariffs, which could impact market performance. This content does not constitute investment advice.