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

Written by: Qadir AK

Written by right arrow

Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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Sep 14, 2022

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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.

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