Billionaire and cryptocurrency skeptic Jeffrey Gundlach (Jeffrey Gundlach stated that a new bubble in the cryptocurrency market began to inflate after the bitcoin rate reached $ 20,000.
“Judging by the way the situation is developing, I see a bubble in the cryptocurrency market. Although the dynamics of supply and demand, especially if institutional investors enter the industry, are really amazing, ”Gundah said in an interview with CNBC.
The investor said that in fact, he has been neutral about the first cryptocurrency for some time. Last year, amid the coronavirus pandemic and economic stimulus measures, Gundlach concluded that the US dollar would fall and the bitcoin rate would rise.
“After Bitcoin rose to $ 23,000, it all started to look like mania. Bitcoin volatility is very high and I don’t like it. I don’t like assets that rise and fall so dramatically. In general, I am not an opponent of Bitcoin, it is just that overly enthusiastic people are often met, ”he said.
Recall that on the morning of January 11, the rate of the first cryptocurrency fell by 17%, and during the day bitcoin fell to $ 31,000. Against this background, positions worth $ 2.7 billion were liquidated on cryptocurrency derivatives exchanges.
Telegram channel!
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
