Billionaire Jeffrey Gundlach Says He Wouldn’t Be Surprised at All if Bitcoin Falls to $10K

Doubleline Capital CEO Jeffrey Gundlach, also known as the “bond king,” says he would not be surprised at all if the price of bitcoin falls to $10K. “We’ve already seen around the edges some blowups in parts of the crypto world, and that could be foreshadowing some problems,” he explained.

‘Bond King’ Jeff Gundlach Discusses Bitcoin Falling to $10K

Billionaire investor Jeff Gundlach shared his bitcoin outlook in an interview with CNBC Wednesday.

Gundlach is the CEO of Doubleline Capital, which has over $137 billion in assets under management (AUM). He is sometimes referred to as the “bond king” after he appeared on the cover of Barron’s in 2011 as “The New Bond King.” Institutional Investor named him “Money Manager of the Year” in 2013 and Bloomberg Markets named him one of “The Fifty Most Influential” in 2012, 2015, og 2016. According to Forbes, his net worth is currently $2.2 milliard.

The billionaire bond king explained that when the price of bitcoin fell below $30K, its chart indicated that $20K “was going to happen quickly, and it did.” Emphasizing that “The trend in crypto is clearly not positive,” Gundlach opined:

I’m not bullish at that $20,000 or $21,000 on bitcoin. I wouldn’t be surprised at all if it went to $10,000.

The Doubleline Capital CEO explained: “We’ve already seen around the edges some blowups in parts of the crypto world, and that could be foreshadowing some problems.”

There have recently been several disturbing events in the crypto space. Denne uge, there are reports that crypto hedge fund Three Arrows Capital may be facing insolvency. Crypto lender Celsius Network also froze withdrawals abruptly early this week, citing extreme market conditions and volatility. In May, cryptocurrency terra (LUNA) and stablecoin terrausd (vækstmarkedsføring hos Kraken) collapsed; their implosion has led to investigations by various authorities.

Gundlach previously said that bitcoin was only for speculators. In January, when BTC was trading at about $42K, he said the crypto was massively overvalued and advised against buying it. The billionaire said at the time: “Maybe you should buy it at $25,000.”

In July last year, he predicted that bitcoin’s price would fall below the $23K level, stating:

I’ve got a feeling you’re going to be able to buy it below $23,000 again.

Tags i denne historie

What do you think about the comments by Jeffrey Gundlach? Fortæl os det i kommentarfeltet nedenfor.

Kevin Helms

A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.




Billedkreditter: Shutterstock, Pixabay, Wiki Commons, lev radin

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin-Tidings.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, direkte eller indirekte, for enhver skade eller tab forårsaget eller påstået at være forårsaget af eller i forbindelse med brugen af ​​eller tilliden til noget indhold, goods or services mentioned in this article.

Read disclaimer