PANews reported on June 5th, citing CoinDesk, that Reza Bundy, CEO of Atlas Capital, backed by "Dr. Doom" Nouriel Roubini, warned that Bitcoin could fall 70% to the $26,000-$30,000 range within six months, before rebounding to $150,000-$500,000 over several years. Bundy's pessimistic prediction is based on data analyzed jointly with Roubini, who accurately predicted the 2008 subprime mortgage crisis and has been bearish on Bitcoin for a long time. Bundy believes that Bitcoin has failed as an inflation hedge and is currently only a highly volatile risk asset, fluctuating in tandem with tech stocks.

However, Bundy still believes in Bitcoin's value storage properties and is bullish in the long term based on four economic paths: if the global economy grows steadily, Bitcoin will reach $150,000 to $250,000; if governments print money to pay off debts, leading to high inflation, Bitcoin will reach $250,000 to $500,000; global conflicts will prove its safe-haven value; and if a deflationary recession occurs, Bitcoin will remain weak until central banks inject liquidity.