More

    Bond King Predicts Bitcoin Price to Hit $15,000 in 2020

    • Jeffrey Gundlach of DoubleLine Capital says “it’s about time for the dollar to weaken”
    • Money printing, budget deficit, & foreigners divesting from the US to weaken the dollar
    • He predicted Bitcoin’s peak in January 2018, doesn’t own any BTC because it’s “very different from my conservative DNA.”

    After making a spot-on forecast of Bitcoin price in 2019, Jeffrey Gundlach, the Chief executive officer, and chief investment officer of DoubleLine Capital, a $140 billion investment firm has a higher target for BTC.

    The Bond King sees BTC going to $15,000 this year.

    “I think bitcoin's going to go higher in the near term,” he said. “I think it could go as high as $15,000 in 2020.”

    Apart from Bitcoin, Gundlach is expecting commodity prices to rise as “It seems like it's just about time for the dollar to weaken.”

    The US dollar will depreciate for three main reasons, a blown-out budget deficit, the US Federal Reserve’s insistence upon printing money, and foreigners starting to divesting from the US.

    BTC is the poster child for social mood and market mood

    Early in 2019, Gundlach who has characterized Bitcoin as “the poster child for social mood and market mood,” said it could gain as much as 25%.

    At that time when BTC was trading around $4,000, he said, “I think it could make it to $5,000. Talk about an easy 25 percent.”

    The flagship cryptocurrency to him is a “hugely speculative” asset and he advised to “get the heck out of bitcoin.”

    Back in 2018, he said the highly volatile crypto asset is proving to be the new stock market indicator.

    “Bitcoin keeps leading,” Gundlach told Reuters in an interview in April, two years back. The reason the digital currency carries so much predictive power is “because it was the poster child of the speculative mood late last year.”

    In his January 2018 investor webcast, Gundlach said he believed Bitcoin price had hit its peak.

    As for if he owns any BTC, he had said, “I do not own bitcoin. This type of investment is very, very different from my conservative DNA.”

    Bitcoin (BTC) Live Price

    1 BTC/USD =$8,356.9980 change ~ -3.54%

    Coin Market Cap

    $151.91 Billion

    24 Hour Volume

    $5.38 Billion

    24 Hour VWAP

    $8.5 K

    24 Hour Change

    $-296.1110

    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

    I will never give away, trade or sell your email address. You can unsubscribe at any time.

    AnTy
    AnTy
    AnTy has been involved in the crypto space full-time for over a year now. Before his blockchain beginnings, he worked with the NGO, Doctor Without Borders as a fundraiser and since then exploring, reading, and creating for different industry segments.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    3,260FansLike
    2,721FollowersFollow
    4,100FollowersFollow

    Live Bitcoin Price & Latest BTC Chart News

    Today's Latest Crypto News

    US Finance Giant Bottomline Testing Ripple’s Disruptive Technology

    Bottomline Technologies processes trillion dollars in payments every year and operates in 92 countries The idea is to update the company's software mode...

    SEC Strikes Against Yet Another Unregistered ICO to Recover $147,000 ‘Ill-Gotten' Gains

    In January, U.S. SEC has gone after 3 Initial Coin Offerings (ICO) SEC files complaint against Opporty and its sole owner Sergii Grybniak...

    Payment Provider Square Wins US Patent For Real-Time Crypto-To-Fiat Automatic Swaps

    Square has been awarded a patent for a payment network that will allow individuals holding various types of of assets to transact with each...

    The Bakkt Consumer App Will Do More Than Just Crypto Investing: Pres. Adam White

    Intercontinental Exchange’s CEO, Adam White announced the launch of its retail app in 2020. The app will tilt towards the traditional financial system...

    QuadrigaCX Victim's Representative Counsel Seeking Information on Crypto Capital

    Crypto Capital may be payment processor for Quadriga in the final quarter of its operation The company is currently under the investigation of...

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.