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.”

Crypto Crisis

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.