DoubleLine Capital CEO Jeffrey Gundlach calls Bitcoin too expensive in light of upcoming tightening FRS monetary policy and suggested waiting for the price to drop to $ 25,000 for its purchase.
“Bitcoin is now suitable for speculators. It will remain volatile as market participants reset it. I would not rush to buy it. The score is high. I like buying cheap things. Perhaps $ 25,000 will be a good level to open a long position “– said the billionaire.
In an interview, Gundlach also touched on the topic of non-fungible tokens.
«History with NFT moved from “I don’t know what it is” to “It costs $ 70 million”. This is for those who take high doses of steroids. “– he explained.
Gundlach’s skepticism about the outlook for the markets stems from the Fed’s hawkish signals. He admitted the high likelihood of a recession in the US economy in the second half of 2022 after four key rate hikes.
The CEO of DoubleLine Capital drew attention to the relationship between the dynamics of the US stock market and the Fed’s balance sheet. In his opinion, against the background of extreme valuations of securities, this “should worry investors.” [по причине анонсирования Федрезервом планов по снижению объема приобретенных активов].
Recall that economist Alex Kruger allowed Bitcoin to fall below $ 40,000 amid high inflation.
Previously specialists IMF drew attention to the increased correlation between bitcoin and the S&P 500 index.
Subscribe to the ForkLog YouTube channel!
Found a mistake in the text? Select it and press CTRL + ENTER