The bitcoin price has lost around $10,000 from its price since earlier this month as fears over Federal Reserve monetary tightening and the rising risk of a recession hits asset prices across the board.
Ahead of the latest crypto crash, billionaire investor Jeff Gundlach warned he wouldn’t be surprised to see the bitcoin price fall further to hit $10,000—calling the trend in crypto “clearly not positive.”
“When it broke below $30,000, it looked on a chart basis $20,000 was going to happen quickly, and it did. The trend in crypto is clearly not positive,” Gundlach told CNBC this week.
“It looks like it’s being liquidated. I’m not bullish at that $20,000 or $21,000 on bitcoin. I wouldn’t be surprised at all if it went to $10,000.”