Sentiment in the market has not been as bad as it has been today and yesterday for a long time. The Bitcoin (BTC) The price has fallen past the key $20,000 mark, but according to billionaire and CEO of DoubleLine Capital Jeffrey Gundlach, it will likely be a lot of pain for Bitcoin investors.
Bitcoin crashes to $10,000?
According to Gundlach, it wouldn’t be surprising to expect it to be Bitcoin price You could crash another 50% from here. puts in meeting with CNBC He cannot rule out a scenario in which Bitcoin crashes to $10,000.
It is clear that the trend in cryptocurrency is not positive. I mean, the top was reached a long time ago. Remember, I was with you in July of last year and the price of bitcoin was $60,000 or something. Then it went down to $30K…it came back, but it looks like it’s being liquidated. So I am not optimistic about $20,000 or $21,000 on Bitcoin. I wouldn’t be surprised at all if I went for $10,000.”
According to Gundlach, the demise of some of the great CryptocurrencyTerra (LUNA), of course, is also a sign that a major crisis is coming in the world of cryptocurrency and digital assets.
We have seen such a massive drop in parts of the stock market. Emerging market stocks are down 15% so far. Most stocks fell. The Nasdaq is down 28%, and Bitcoin is down 53% and 45% since the last meeting of the Federal Reserve. We’ve already seen some edge explosions in parts of the crypto world and that could be a harbinger of some problems.”
He is Gundlach Not exactly the only one Analyst who believes that the price of Bitcoin could drop much more. However, no one has a crystal ball, not even a billionaire like Jeffrey Gundlash. Only time will tell where the bottom is finally formed by the price of Bitcoin.
“Lifelong zombie fanatic. Hardcore web practitioner. Thinker. Music expert. Unapologetic pop culture scholar.”