Bitcoin, Oil, and Stocks Set for Major Crashes, Says Bloomberg Analyst, Calling It “Normal”
Bloomberg commodity strategist Mike McGlone warns of a potential massive market correction that could impact Bitcoin, oil, and stocks. McGlone points to elevated ratios in the S&P 500 vs. GDP and gold, historically signaling major market crashes.
He predicts a 50% drawdown in the U.S. stock market. A drop in oil to $40 per barrel, and Bitcoin falling to $10,000. McGlone suggests this “normal” correction could be triggered by a pushback against Trump’s tariff policies, though he acknowledges that such reversion has historically reset markets and global order.
Clever Robot News Desk 23th April 2025
