CEO Reza Bundy forecasts a near-term 70% bitcoin decline to $26,000-$30,000 but remains long-term bullish on $500,000 target.
Atlas Capital CEO Reza Bundy said bitcoin could fall as much as 70% in the next six months, potentially dropping to a range of $26,000 to $30,000. The warning follows Bundy’s projection of a major drawdown if equities suffer a significant decline, similar to 2008 levels.
Bundy, whose firm is backed by economist Nouriel Roubini, maintained a long-term bullish outlook, forecasting bitcoin could eventually reach $150,000 to $500,000. His short-term bearish stance contrasts with broader crypto market optimism but aligns with Roubini’s historically critical view of bitcoin.
The CEO’s remarks were made at the Proof of Talk conference in Paris, where he emphasized macroeconomic risks as a key driver for the anticipated decline.