["'Dr. Doom'-Backed Atlas CEO Predicts Bitcoin Will First Plunge 70% Before Surging to $500,000"] According to CoinDesk, Reza Bundy, CEO of Atlas Capital and supported by "Dr. Doom" Nouriel Roubini, has warned that Bitcoin could drop 70% within six months to the $26,000-$30,000 range, before rebounding over several years to $150,000-$500,000. Bundy's pessimistic forecast is based on data jointly analyzed with Roubini. Roubini, who accurately predicted the 2008 subprime mortgage crisis, has long been bearish on Bitcoin. Bundy believes Bitcoin has failed as an inflation hedge and is currently just a highly volatile risk asset, moving in tandem with tech stocks.