DoubleLine CEO sees Bitcoin buy moment at $23K, predicts US dollar will drop 'pretty substantially'

DoubleLine CEO sees Bitcoin buy moment at $23K, predicts US dollar will drop 'pretty substantially'


Jeffrey Gundlach, the CEO of investment management firm DoubleLine, implied that Bitcoin could see more favorable activity in the long term than that of the U.S. dollar.

In a Wednesday interview on CNBC’s Halftime Report, Gundlach said he believed people would be able to purchase Bitcoin (BTC) for under $23,000 soon given the likelihood of the crypto asset forming a head-and-shoulders trading pattern. He was seemingly referring to a “head” when the BTC price peaked at more than $64,000 on April 13 and the shoulders as the early January surge to more than $40,000 and the recent drop to the $30,000s.

“I’m not a big believer in head-and-shoulders tops but this one looks pretty convincing,” said Gundlach. “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.”

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Though the billionaire said he was bullish on the cryptocurrency early last year, he has always considered it a “highly

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