Atlas CEO Predicts 70% Bitcoin Drop to $26,000–$30,000 Before Rebound to $500,000

Huo Xing Cai Jing reports, according to CoinDesk, Reza Bundy, CEO of Atlas Capital, backed by “Dr. Doom” Nouriel Roubini, warned that Bitcoin could drop 70% within six months to the $26,000–$30,000 range, before rebounding over several years to $150,000–$500,000. Bundy’s pessimistic forecast is based on data analyzed jointly with Roubini, who accurately predicted the 2008 subprime crisis and has long been bearish on Bitcoin. Bundy believes Bitcoin has failed as an inflation hedge and is now merely a highly volatile risk asset that moves in tandem with tech stocks. However, Bundy still maintains faith in Bitcoin’s store-of-value properties, with long-term bullishness contingent on four economic scenarios: if the global economy grows steadily, Bitcoin could reach $150,000–$250,000; if governments print money to service debt, triggering high inflation, Bitcoin could reach $250,000–$500,000; global conflicts could validate its safe-haven status; and in the event of a deflationary recession, Bitcoin would remain weak until central banks inject liquidity.