McGlone shifts bitcoin forecast to $28,000 after critics blast $10,000 call as 'nonsense'

Bloomberg Intelligence analyst Mike McGlone softened his bearish forecast for Bitcoin, adjusting his downside target from $10,000 to $28,000 after facing intense criticism on social media. McGlone had initially warned that a collapse in U.S. equities could send Bitcoin toward $10,000, framing it as a high-beta risk asset vulnerable to a post-2008 regime breakdown. Market analysts, including Jason Fernandes and Mati Greenspan, challenged this extreme forecast, arguing that such alarmist predictions could put "real capital at risk" by influencing positioning. Fernandes specifically called the $10,000 prediction "nonsensical" and suggested a more likely reset would be in the $40,000 to $50,000 range absent a systemic shock. McGlone's revised $28,000 target aligns closer to the lower bounds suggested by his critics, though some still view it as unlikely.

(Source：CoinDesk)