Billionaire Jeffrey Gundlach Refuses To Invest In Cryptocurrencies- Here’s Why

0
3

The post Billionaire Jeffrey Gundlach Refuses To Invest In Cryptocurrencies- Here’s Why appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide

The market is displaying intense bearish sentiments. Because of this, billionaire Jeffrey Gundlach has denied investing in cryptocurrencies by keeping in mind FED’s surprising measures. As the market plummeted, Fed tightened the monetary policy and announced sharp hikes in the interest rates. With the announcement of the consumer price index,  stocks declined and BTC plummeted. Cryptocurrency dropped by 11%, reaching a low of $19,855. Since June 18, this was recorded as the worst day for Bitcoin. Thus, Gundlach would rather stay away from the crypto space. Cryptoanalyst Willy Woo believes Bitcoin is still far from reaching a bottom.