'Dr. Doom'-backed Atlas Capital CEO says bitcoin could crash 70% before reaching $500,000

MarketsShareShare this articleCopy linkX iconX (Twitter)LinkedInFacebookEmail'Dr. Doom'-backed Atlas Capital CEO says bitcoin could crash 70% before reaching $500,000Backed 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.By Olivier Acuna|Edited by Aoyon AshrafUpdated Jun 4, 2026, 6:21 p.m. Published Jun 4, 2026, 6:15 p.m. 4 min readMake preferred on What to know: Reza Bundy, CEO of investment advisory firm Atlas Capital, warns that bitcoin could see a drawdown of up to 70% within six months, especially if equities suffer a major decline.Despite echoing Nouriel Roubini’s near-term bearishness, Bundy projects a long-term price range of $150,000 to $500,000 depending on global economic scenarios.Reza Bundy, chief executive of Atlas Capital and business partner of longtime bitcoin critic Nouriel Roubini, expects bitcoin to fall as much as 70% over the next six months before eventually climbing as high as $500,000 in the years ahead.Speaking to CoinDesk at the Proof of Talk conference in Paris, Reza Bundy, CEO of investment advisory firm Atlas Capital, issued his grim macroeconomic warning that runs contrary to typical industry optimism.“We think there's going to be a massive drawdown in bitcoin in the next six months,” Bundy said, echoing Roubini's long-held thesis. “It [drawdown] could be up to 70%. We think $26,000 to $30,000 was the number we came up with. If there's a drawdown in the stock market that's even half of what happened in 2008, Bitcoin will double that debt loss.”Bitcoin BTC$63,819.82 was trading around $63,000, down nearly 28% this year, while the equity markets have rallied sharply on the back of AI hype and momentum chasing. The S&P 500 rose 10%, and the Nasdaq climbed about 19%, outpacing bitcoin over the same period. 'Dr. Doom'Bundy said that his bearish forecast is built directly on data and analysis devel…

'Dr. Doom'-backed Atlas Capital CEO says bitcoin could crash 70% before reaching $500,000

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