Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

A Billionaire Fund Manager Says Bitcoin Will Drop Below $23K

Published 07/18/2021, 07:00 AM
Updated 07/18/2021, 07:30 AM
© Reuters.  A Billionaire Fund Manager Says Bitcoin Will Drop Below $23K

  • Doubleline Capital CEO Jeffrey Gundlach said BTC would drop below the $23K level.
  • He said that in the longer term, the dollar is doomed.

The billionaire fund manager and Doubleline Capital CEO Jeffrey Gundlach said that the price of bitcoin would drop below the $23K level.

According to an interview, Gundlach talked about his vision for bitcoin and the U.S. dollar.

Gundlach predicted that the price of BTC would fall below $23k. But before that, he said that the chart on bitcoin looks pretty scary. Also, he added that it fell a lot from $60,000 down to around $31,500, and it looks like a massive head-and-shoulders top.

As Bitcoin and the crypto market are struggling to recover, the Doubleline CEO said,

I’m not a big believer in head-and-shoulders tops, but this one looks pretty convincing. Turning neutral at $23,000 was obviously too early, but I’ve g...

Continue reading on CoinQuora

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.