In a recent interview with Cointelegraph, Bloomberg Senior Commodity Strategist Mike McGlone expressed concerns over the potential for further market turmoil, exacerbated by ongoing tariff disputes involving US President Donald Trump. McGlone specifically highlighted the likelihood of a significant correction in the cryptocurrency sector, with a prediction that Bitcoin could drop to $10,000 due to what he perceives as excessive speculation and overvaluation. He pointed to examples like Dogecoin’s $20 billion market cap as evidence of the need for a market purge akin to the dot-com bubble burst. Despite a generally favorable regulatory landscape, McGlone suggested that Bitcoin’s status as “digital gold” is being tested and cautioned against viewing it solely as a safe-haven asset. He also emphasized the need for a more protracted recovery period following any market downturn, rather than a quick rebound as seen after the COVID-19 crash. McGlone warned that the stock market’s disproportionate growth relative to the US economy indicates an impending correction. For more insights and predictions from McGlone, viewers can watch the full interview on Cointelegraph’s platform.