Famed bullish investor Mike Alfred has dismissed recently bearish analysts as “drama queens” while predicting a Bitcoin price rally to $150,000.
His comments come as a growing number of analysts issue increasingly pessimistic outlooks for Bitcoin, including one Bloomberg analyst who suggested the asset could fall back to $10,000.
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Alfred Doubles Down on Bitcoin Price
Mike Alfred, a well-known crypto investor and commentator, said he remains firmly bullish on Bitcoin’s trajectory, arguing that market sentiment has swung too far to the negative.
“Everyone seems to think Bitcoin is going to go lower here even though BTC is deeply oversold, AI demand is growing, and liquidity conditions are about to improve,” Alfred wrote in a post on X.
“It’s possible the drama queens are getting a bit carried away here.”
Alfred said he expects Bitcoin to reach $150,000 before revisiting substantially lower levels.
“I’m still looking for $150,000 before $75,000,” he added.
Pushback Against Bears
Alfred’s remarks come as bearish forecasts gain traction following Bitcoin’s recent pullback from record highs.
Bloomberg Intelligence analyst Mike McGlone warned that Bitcoin could eventually slide back toward $10,000, citing signs of “bearish exhaustion” and fading catalysts that previously fueled the rally.
“Much of what the market had been looking forward to has occurred — ETFs, U.S. leaders recognizing Bitcoin’s benefits, and broader mainstream adoption,” McGlone said, adding that Bitcoin may now be vulnerable to mean reversion.
McGlone also questioned Bitcoin’s scarcity narrative, pointing to the rapid expansion of the broader crypto market.
“There were zero cryptocurrencies in 2009. Now there are roughly 28 million listed on CoinMarketCap,” he said.
“Own it or wear it — I expect Bitcoin to revert back toward $10,000.”
While McGlone said he respects Strategy chairman Michael Saylor for helping legitimize Bitcoin during its 2020 breakout, he argued that many long-term positives may already be priced into the market.
Bulls Remain
Other prominent figures and firms continue to project higher prices into the new year, even as Bitcoin trades well below its October peak.
Michael Saylor reiterated his “always bullish” stance in a recent podcast, arguing that Bitcoin is still being treated as a short-term trade.
“We expect Bitcoin to appreciate 30% a year for the next 20 years,” Saylor said. “That is our risk-free rate.”
BitMine Chairman Tom Lee has also maintained his highly optimistic outlook, saying he believes Bitcoin could reach a new all-time high as soon as early next year.
“I do think Bitcoin can make an all-time high by the end of January,” Lee said.
In its 2026 prediction list, asset manager Bitwise said Bitcoin’s volatility has been steadily declining as ownership shifts toward institutional investors.
Meanwhile, Grayscale said it expects Bitcoin to reach a new all-time high in the first half of 2026 as digital assets become more integrated into mainstream financial infrastructure.
Bitcoin Price Caution
Despite the longer-term optimism, some analysts warn that Bitcoin could face additional downside before any sustained recovery.
Valdrin Tahiri, an analyst at CCN, said Bitcoin’s technical structure remains bearish after breaking down from an ascending channel.
“If the count is accurate, the Bitcoin price will fall to the $70,000–$72,000 range to complete its correction,” Tahiri said, adding that a meaningful rebound could follow once the decline runs its course.
He added that the wider crypto market was facing an “approaching a decisive moment.”
“A confirmed breakdown below the current channel would likely accelerate selling toward the $2.50 trillion level,” Tahiri said.
