In a tweet released today, Bloomberg senior commercial strategist Mike McGrone recalled the events that sparked the creation of Bitcoin, the Great Recession of 2008.
McGlone noted that the CoinmarketCap website lists around 20 million coins. And now he says he’s sharing the graph. The main crypto of its name, Bitcoin, says it could potentially return to $10,000 from its current $110,000 level.
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McGlone’s Bitcoin $10,000 Crash Warning
McGlone mentions “Key Risk Asset Reading Indicator” in his tweet and shares a chart featuring Bitcoin, Gold and S&P 500 Indexes. McGlone claims that Bitcoin is growing too much compared to gold and stocks, and says that there may be a bubble-like overexpansion currently being formed.
As part of a “normal return,” it could push Bitcoin back to the $10,000 level.
The launch of Bitcoin at the back of the Great Recession could spur the spread of cryptocurrencies, which has roughly 20 million people listed on CoinMarketCap, and could become a key indicator of key risk assets. My graphics show that Bitcoin’s normal return could be $10,000.
Complete report…pic.twitter.com/ykhjh3enog– Mike McGlone (@mikemcglone11) September 4, 2025
What’s more, in a tweet published earlier today, McGlone suggests that Bitcoin could lose a bit of its value for money. Currently, the Bitcoin/Gold ratio is 35, which means one BTC can buy 35 ounces of gold, he suggests.
From Bitcoin to $250,000 by the end of 2025: Tim Draper
Famous investor and billionaire Tim Draper doubled his previous prediction that Bitcoin would reach $250,000. On Wednesday, he tweeted that he still hopes BTC will reach its astronomical price level by the end of the year.
He believes that the main driver for this is “institutional FOMO” (the fear of missing out). Draper said: He said that companies that laughed at the idea of Bitcoin just two years ago are now trying to accumulate as much BTC as possible and put it on their balance sheet.
“It’s become irresponsible to not own Bitcoin,” Draper said.
