Mike McGlone Likens DOGE And ‘Unlimited Supply Cryptos’ to ‘Dot-Com Bubble’

Bitcoin, Dogecoin, and the Altcoin Landscape

Chief commodity strategist at Bloomberg Intelligence, Mike McGlone, has analyzed the cryptocurrency market, focusing on Bitcoin, Dogecoin, and the myriad of altcoins.

McGlone's Prediction on Altcoins and Meme Coins

McGlone predicts that the market's 2.4 million altcoins, including Dogecoin, face an uncertain future. He cautions that "future generations may look back upon them akin to the dot-com bubble."

Dogecoin: A Limited Supply Crypto

Despite its impressive market capitalization of $68 billion, McGlone highlights Dogecoin's "unlimited supply," contrasting it with Bitcoin's finite supply of 21 million. He suggests that Dogecoin and similar cryptocurrencies will likely face competition from Bitcoin, precious metals, and the Platinum Group Metals.

Robert Kiyosaki's Bold Bitcoin Price Forecast

Financial guru Robert Kiyosaki remains bullish on Bitcoin, recently predicting a rise to $175,000 or even $350,000 by 2025. He encourages investors to allocate funds to Bitcoin, gold, and silver as safeguards against market volatility.

Bitcoin's Recent Recovery

Today, Bitcoin regained the $99,000 level and has subsequently surpassed $101,000. This follows a substantial increase overnight.