Falling to $10,000 Won’t Hurt Bitcoin: Expert

Bloomberg Senior Analyst Mike McGlone has compared Bitcoin metrics to the stock market and concluded that even if BTC dropped to $10,000, it would still keep its remarkable performance.

In comparison, it took Amazon stock roughly 25 years of development to reach 130%, whereas Bitcoin accomplished the same feat in only 10, with an ascent of over 26,000%.

McGlone has further noted that the 100-week correlation between the digital gold and Amazon stood at 0.40, the highest ever.

Despite its recent difficulties, BTC remains strong in the market with a market capitalization of $506 billion and 48.3% dominance, currently trading at $25,970.