Posted 1/8/2024, 7:05:30 PM
Bitcoin Analyst Cautions Investors on Hopium Fueling $45K Rally, Sees Correction Ahead
- Bitcoin analyst Mike McGlone warns Bitcoin is topping out and due for a correction
- McGlone sees similarities between current Bitcoin price action and previous tops
- An SEC decision on a Bitcoin spot ETF this week could trigger a trend reversal
- McGlone "You don't want to be getting overweight here" at $45K Bitcoin price
- Bloomberg strategist cautions against "hopium" and too much bullishness fuelling the rally