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, und 2016. According to Forbes, his net worth is currently $2.2 Milliarde.

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 oder $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. Schild, 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. Im Mai, cryptocurrency terra (LUNA) and stablecoin terrausd (UST) 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, Angabe:

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

Tags in dieser Geschichte

What do you think about the comments by Jeffrey Gundlach? Lass es uns im Kommentarbereich unten wissen.

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.




Bildnachweise: Shutterstock, Pixabay, Wiki-Commons, lev radin

Haftungsausschluss: Dieser Artikel dient nur zu Informationszwecken. Es ist kein direktes Angebot oder Aufforderung zur Abgabe eines Angebots zum Kauf oder Verkauf, oder eine Empfehlung oder Befürwortung von Produkten, Dienstleistungen, oder Firmen. Bitcoin-Tidings.com bietet keine Investition, MwSt, legal, oder Buchhaltungsberatung. Weder das Unternehmen noch der Autor sind dafür verantwortlich, direkt oder indirekt, für alle Schäden oder Verluste, die durch oder in Verbindung mit der Nutzung oder dem Vertrauen auf Inhalte verursacht oder angeblich verursacht wurden, Waren oder Dienstleistungen, die in diesem Artikel erwähnt werden.

Lesen Haftungsausschluss