{"id":12813,"date":"2022-06-17T02:58:57","date_gmt":"2022-06-17T02:58:57","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/billionaire-jeffrey-gundlach-says-he-wouldnt-be-surprised-at-all-if-bitcoin-falls-to-10k-markets-and-prices-bitcoin-news\/"},"modified":"2022-06-17T02:58:57","modified_gmt":"2022-06-17T02:58:57","slug":"billionaire-jeffrey-gundlach-says-he-wouldnt-be-surprised-at-all-if-bitcoin-falls-to-10k-markets-and-prices-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/billionaire-jeffrey-gundlach-says-he-wouldnt-be-surprised-at-all-if-bitcoin-falls-to-10k-markets-and-prices-bitcoin-news\/","title":{"rendered":"Billionaire Jeffrey Gundlach Says He Wouldn’t Be Surprised at All if Bitcoin Falls to $10K \u2013 Markets and Prices Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Doubleline Capital CEO Jeffrey Gundlach, also known as the \u201cbond king,\u201d says he would not be surprised at all if the price of bitcoin falls to $10K. \u201cWe\u2019ve already seen around the edges some blowups in parts of the crypto world, and that could be foreshadowing some problems,\u201d he explained.<\/strong><\/p>\n

\u2018Bond King\u2019 Jeff Gundlach Discusses Bitcoin Falling to $10K<\/h2>\n

Billionaire investor Jeff Gundlach shared his bitcoin outlook in an interview with CNBC Wednesday.<\/p>\n

Gundlach is the CEO of Doubleline Capital, which has over $137 billion in assets under management (AUM). He is sometimes referred to as the \u201cbond king\u201d after he appeared on the cover of Barron\u2019s in 2011 as \u201cThe New Bond King.\u201d Institutional Investor named him \u201cMoney Manager of the Year\u201d in 2013 and Bloomberg Markets named him one of \u201cThe Fifty Most Influential\u201d in 2012, 2015, and 2016. According to Forbes, his net worth is currently $2.2 billion.<\/p>\n

The billionaire bond king explained that when the price of bitcoin fell below $30K, its chart indicated that $20K \u201cwas going to happen quickly, and it did.\u201d Emphasizing that \u201cThe trend in crypto is clearly not positive,\u201d Gundlach opined:<\/p>\n

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I\u2019m not bullish at that $20,000 or $21,000 on bitcoin. I wouldn\u2019t be surprised at all if it went to $10,000.<\/p>\n<\/blockquote>\n

The Doubleline Capital CEO explained: \u201cWe\u2019ve already seen around the edges some blowups in parts of the crypto world, and that could be foreshadowing some problems.\u201d<\/p>\n

There have recently been several disturbing events in the crypto space. This week, 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 (UST) collapsed; their implosion has led to investigations by various authorities.<\/p>\n

Gundlach previously said that bitcoin was only for speculators. In January, when BTC<\/a> was trading at about $42K, he said the crypto was massively overvalued and advised against buying it. The billionaire said <\/a>at the time: \u201cMaybe you should buy it at $25,000.\u201d<\/p>\n

In July last year, he predicted that bitcoin\u2019s price would fall below the $23K level, stating:<\/p>\n

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I\u2019ve got a feeling you\u2019re going to be able to buy it below $23,000 again.<\/p>\n<\/blockquote>\n

What do you think about the comments by Jeffrey Gundlach? Let us know in the comments section below.<\/strong><\/em><\/p>\n

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\nKevin Helms <\/h6>\n

\nA 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.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons, lev radin<\/em><\/p>\n

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Disclaimer<\/strong>: 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.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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