Overview
- He had previously warned of a potential slide toward $10,000 if U.S. equities peaked and a recession followed.
- Market analysts including Jason Fernandes and Mati Greenspan publicly criticized the $10,000 call, with Greenspan calling it “literally nonsense.”
- Fernandes invited McGlone to a public debate and argued that deterministic forecasts can sway positioning and put real capital at risk.
- In updating his view on X, McGlone said $28,000 is the more probable downside and advised against buying bitcoin or most risk assets.
- Critics outlined alternative baselines, with Fernandes seeing a $40,000–$50,000 reset absent a systemic liquidity shock and Greenspan saying $28,000 is possible but unlikely.