Analyst says market also needs bearish views on BTC

Real Vision crypto market analyst Jamie Coutts said the market also needs opposing views, defending Bloomberg Intelligence Senior Commodity Analyst Mike McGlone, who has recently faced criticism for his bearish outlook on Bitcoin. In a post on X, Coutts said McGlone had supported BTC even before Coutts worked as a crypto analyst at Bloomberg, and was among those who early on predicted in 2019 that stablecoins would become the next major trend. Coutts added McGlone was far more bullish at the time than he is now, and argued that if people cannot freely share different views, it can no longer be called a market. McGlone recently said Bitcoin could fall toward its long-term average of around $10K.