Jump to content

Billionaire Fund Manager Jeffrey Gundlach Convinced Bitcoin Will Fall Below $23K, US Dollar Is 'Doomed' - Piracy News and Crypto Updates - InviteHawk - Your Only Source for Free Torrent Invites

Buy, Sell, Trade or Find Free Torrent Invites for Private Torrent Trackers Such As redacted, blutopia, losslessclub, femdomcult, filelist, Chdbits, Uhdbits, empornium, iptorrents, hdbits, gazellegames, animebytes, privatehd, myspleen, torrentleech, morethantv, bibliotik, alpharatio, blady, passthepopcorn, brokenstones, pornbay, cgpeers, cinemageddon, broadcasthenet, learnbits, torrentseeds, beyondhd, cinemaz, u2.dmhy, Karagarga, PTerclub, Nyaa.si, Polishtracker etc.

Billionaire Fund Manager Jeffrey Gundlach Convinced Bitcoin Will Fall Below $23K, US Dollar Is 'Doomed'


Recommended Posts

Doubleline Capital CEO Jeffrey Gundlach, also known as the “Bond King,” has predicted that the price of bitcoin will fall below the $23K level. “Right now, the chart on bitcoin looks pretty scary,” he said, adding that “it looks like a massive head-and-shoulders top.”

Jeffrey Gundlach Expects Bitcoin’s Price to Fall Below $23K

Billionaire fund manager Jeff Gundlach talked about his outlook for bitcoin and the U.S. dollar in an interview with CNBC Thursday.

Gundlach is the CEO of Doubleline Capital, with had over $135 billion in assets under management (AUM) as of March 31. He is sometimes referred to as the “Bond King” after he appeared on the cover of Barron’s in 2011 as “The New Bond King.” Institutional Investor named him “Money Manager of the Year” in 2013 and Bloomberg Markets named him one of “The Fifty Most Influential” in 2012, 2015, and 2016. According to Forbes, Gundlach’s net worth is currently $2.2 billion.

He said: “Right now, the chart on bitcoin looks pretty scary. It’s dropped a lot from $60,000 down to around $31,500, and it looks like a massive head-and-shoulders top.” At the time of writing, the price of BTC stood at $31,616, based on data from Bitcoin.com Markets. The Doubleline CEO added:

"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 got a feeling you’re going to be able to buy it below $23,000 again."

Gundlach also commented on other investments. “Interestingly, gold is actually negative this year. Commodities are very strong. Commodities are up more than stocks this year as a basket. But gold can’t seem to get out of its own way. And obviously, the dollar being firmer lately is not positive for gold either,” he opined.

Moreover, the billionaire fund manager said that “The dollar has been moderately firmer in the last several weeks, and that will continue,” elaborating:

"In the near term, the dollar seems firm. In the longer term, the dollar is doomed."

The Bond King believes that a significant drop in the dollar is coming in the intermediate term, citing the size of the U.S. deficit.

Gundlach said in November last year that bitcoin and gold were good as hedges against inflation. Furthermore, he predicted that within 18 months, the stock market was “going to crack pretty hard,” stating, “When the next big meltdown happens, I think the U.S. is going to be the worst-performing market, actually, and that’ll have a lot to do with the dollar weakening.”

Link to comment
Share on other sites

Avoid unnecessary posts such as 'Thank you', 'Welcome', etc. Such posts will be deleted and user will be warned if it happens again. If caught spamming, the following actions are applicable -

  • First time - Warning
  • Second time - 5000 Points will be deducted
  • Third time - Ban for 7 days
  • Fourth time - Permanent Ban

If the post helped you, reward the user by reacting to the post like this -

1.jpg

Link to comment
Share on other sites

The last post in this topic was made more than 14 days ago. Only post in this topic if you have something valuable to add. Irrelevant posts are not allowed and you will be warned/banned for spamming old topics.

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Read this before posting -
  • Only post if you have something valuable to contribute.
  • Avoid unnecessary posts such as 'Thank you', 'Welcome', etc. Such posts will be deleted and you will be warned if it happens again.
  • If the post helped you, reward the user by reacting to the post like this -                      1.jpg
Guest
Unfortunately, your content contains terms that we do not allow. Please edit your content to remove the highlighted words below.
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

  • Customer Reviews

×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.