'Dr. Doom'-backed Atlas Capital CEO says bitcoin could crash 70% before reaching $500,000
60-second summary
Atlas Capital CEO Reza Bundy, backed by economist Nouriel Roubini, predicts a 70% crash in bitcoin before reaching $500,000, citing short-term volatility. Bundy remains bullish on bitcoin's long-term prospects, despite this warning. This prediction comes as bitcoin's price fluctuates, with investors closely monitoring its trajectory and potential impact on the cryptocurrency market's overall stability.
Backed by economist Nouriel Roubini, a long-time anti-bitcoin advocate, and known as 'Dr. Doom,' the Atlas CEO, Reza Bundy, shot a short-term warning for bitcoin but stayed bullish in the long-term.