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

Backed 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. 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.