Analyst predicts bitcoin will fall to $ 10,000

Jeffrey Gundlach, CEO of DoubleLine Capital LP, said that given the unstable market situation, bitcoin could fall to $ 10,000. Gundlach said this in an interview with CNBC.

Jeffrey Gundlach, who belongs to the so-called bitcoin skeptic camp, believes that cryptocurrency is similar to a casino: most investors suffer losses and only a small part makes a profit. «The pressure is constantly increasing, which scares many investors and makes them leave the market,» — the financier explained.

The head of DoubleLine Capital LP believes that bitcoin is gradually being «liquidated» and will not be able to stay at $ 21,000. Arthur Hayes, the former head of the BitMEX cryptocurrency exchange, shares a similar opinion, believing that the situation on the cryptocurrency market will be difficult in the second half of the year and early 2023.