Bitcoin Forum

Jeffrey Gundlach, the CEO of DoubleLine Capital who manages over US$200 billion in assets, has a tip for speculators – bitcoin price could rise to $5,000.

According to CNBC, the Wall Street veteran who has earned the nickname “Bond King” for his expertise in bond investing, made the call in a webcast titled ‘Just Markets’:

    I don’t recommend anything with bitcoin, really … but if you really want to speculate, I think it could make it to $5,000. Talk about an easy 25 percent.

Dip Before a Surge?

While Gundlach did not offer a timeline on when this would materialize, bitcoin price has already fallen by more than 7% since it hit a monthly high of around US$4,200 on January 8. Currently, the cryptocurrency is trading below US$3,800 having already tested a low of US$3,776 (Bitstamp).

CCN | https://www.ccn.com/bond-king-jeffrey-gundlach-sees-an-easy-25-gain-in-bitcoin-price/

Other technical analysts also see a run to $5K - $6K  sometime soon. The real bull action will come once bitcoin goes above $6K and then $10K.

Bitcoin to $5,000? seriously? it's really a prediction? even one-week investor on bitcoin can say that.
This will be a sure action for bitcoin and bulls would come out from their caves and going to flood the internet and social media's just to inform that bitcoin's going to surge again.

Exactly. In my opinion, we can expect another downward wave, just after reaching around $6000. When the new bottom is reached, in the area of ​​$2700 we can expect further long-term increases, but this will not be a bull run yet. For bull run we will need to wait probably untill 2020.

The question people need to ask is if the fund is buying into the asset or what, if there is anything I learnt last year, it is not to base my projections on the so called expeer, most of them said last year Ethereum is going to $2k but when end up below $100. Base your forecast on price on fundamentals it is far better than specualtions

It is very hard to predict bitcoin of course but with only little increase up to $5000 I believe it can go that price we just don't know when it is going to happen this year. It will still not be surprising anymore if it happened to be at the $5k level overnight, anything is possible in the cryptocurrency market.

$6000 is probably going to be a very difficult level to breach given how strong of a support level it was. I do too believe that will be a real indicator that a strong bullish momentum is returning. Breaking $5k at this point isn't much more than some variance. We could see $5k next week and sub $3k the week after.

True. Although I am optimistic for the most part I think it's silly to rely on these investors predictions since most of them are only doing it to either gain more attention or they recently invested in it so it makes sense for them to make price prediction to protect their investment.

I think you can invest on any coin in the market right about now and you will see massive gains this year. Bitcoin is the obvious choice but there are others that can probably make more higher gains instead.

There's no sign of a bull run yet, unfortunately. I'm far from an expert, but even though there's little evidence I would still anticipate price rises this year. Mostly because I think the fall has overshot and needs a correction back upwards. Crypto is still the most amazing and profound tech, and it's only a matter of time before it hits the mainstream.

Using fundamentals without a doubt has its place and I consider it a valid form of investment but it has limitations, using fundamental analysis can tell you if a coin is good as an investment but it does not tell you anything about when the coin will go up in price or when it will go down, this is not a problem if you can hold your coins, but as has been proved by the recent bear market not many investors can keep holding their coins when they suffer great losses.

Since last year, I have listen to so many experts in cryptocurrency, experts in stock market, experts in any kind of investment, everyone keep saying that bitcoin or any coin's price could reach this price could reach that price, and even the price can be ten times. They also said the end of 2018 will be the comeback of crypto and other things, but it never really happend, I don't know how they could claim to be an expert, I don't think I would listen to any expert anymore, and just rely on my own technical and fundamental analysis.

I don't agree with such predictions. In fact, bitcoin over $5,000 is only a matter of time, but it will not be near. Bitcoin needs to be depreciated again, which helps to purify the cryptocurrency market, and the damn coin should disappear.

Predictions come and go and there is no guarantee of course that they can come true but they can providing the necessary inspiration and some hope for people who are still clinging to the idea that a bull run even if a mild one can be happening soon. Actually, there is a big possibility that soon Bitcoin can be surging into the $5K level but it is also possible that it might not be able to hang into the level for a long time so this is still a big bearish market especially if we have to think what transpired in 2017. Anyway, let's hope for the best and be prepared for the worst.

These are just words, I bet he doesn't hold bitcoins .. and I am quite sure he hasn't allocated any part of portfolios under his management to bitcoin.  ;)

I don't believe in predictions anymore as last year predictions did not happen as desired in which most of the experts are become fool due to bearish market. There are lot of predictions for this year in which both positive and negative like this one https://www.ccn.com/ucla-professor-says-crypto-will-go-from-bad-to-worse-in-2019-will-it/ making the readers to confused so better not listen to predictions but just wait and monitor the market movement.

It is easily possible when we get another rally to the upside in the crypto market. Going above $6K again will be the real challenge.

Though he really appreciates the chances and understands that everything will be slow and painful. But again, how much time will it take and whether the bears will be defeated.

There are quite a lot of views out there of this speculative type of nature, but if you combine this with the fact the alternative market has been trending steadily downward and will eventually reverse strongly unless it's further constrained by another plummet in the leading cryptocurrency and you may have cause for a potential market wide appreciation at some stage this year

When you hear a socalled bear tell you Bitcoin price could gain, what do you do? Follow him? If he turns out to be true, then will he also be true about his long-term bear predictions? I don't think so.

I do think BTC will go easily back above 5k, just a matter of time, and it may take this whole year to even reach 4900. Be prepared to see a lot more lows, new lows not seen since 2017 even before that happens!