From TokenPost · · 40s
McGlone Predicts Bitcoin Hits $10,000 with S&P 500 Drop
S&P 500 falling 20% could push Bitcoin to $10,000, says Mike McGlone.
In brief
S&P 500 falling 20% could push Bitcoin to $10,000, says Mike McGlone. Mike McGlone says a 20% S&P 500 drop might push Bitcoin toward $10,000. Originally reported by TokenPost.
Mike McGlone
Mike McGlone says Bitcoin could move toward $10,000 if the S&P 500 falls about 20% and the decline persists.
“about a 20% drawdown in the SPX that persists for a while”
Bitcoin and S&P 500 Relationship
Over five years, Bitcoin matched the S&P 500 performance but had nearly three times the volatility.
Market Trigger
Sustained Bitcoin strength independent of equities would challenge McGlone's $10,000 downside view.
The short version
Mike McGlone says a 20% S&P 500 drop might push Bitcoin toward $10,000.
