Jeffrey Gundlach Correctly Predicted Bitcoin Would Retreat to $20,000: Here’s His Next Call on the Crypto

A physical banknote and coin imitations of the Bitcoin crypto currency, taken in Istanbul on July 19, 2021. Ozan Kose/AFP via Getty Images

Bitcoin has fallen more than 50 percent since the start of the year and one investor says he wouldn’t be surprised to see it cut in half again.

What Happened

Billionaire investor Jeffrey Gundlach on Wednesday warned that Bitcoin’s plunge may not be over.

“It looks like it’s being liquidated,” Gundlach said Wednesday on CNBC’s “Closing Bell: Overtime.”