Home » Gundlach waves recession alarm and hits hard on bitcoin and NFT

Gundlach waves recession alarm and hits hard on bitcoin and NFT

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Bond king Jeff Gundlach sounds recession alarm and says bitcoin is hugely overvalued. The billionaire investor nicknamed “Bond King” was interviewed by Yahoo Finance over the weekend and he has it for everyone talking about China and non-fungible tokens (NFT).

“The ratings have been so extreme even before and it usually didn’t end very well,” Gundlach says. Now the Fed is reversing from its super-expansive monetary policy and this will cause headwinds for investors ”. According to Gundlach, if the Federal Reserve raises interest rates and cuts its bonds, it could weigh on asset prices and plunge the economy into a recession. “It is certainly one non-zero probability of a recession occurring in the latter part of 2022“, sostiene Gundlach.

Despite this, stocks continue to be preferred over bonds. “As overvalued as stocks are relative to historical comparisons, they are actually cheap relative to bonds. It is a difficult choice for investors. Look, stocks and price-earnings ratios are in the danger zone, yet bonds have these wildly negative yields and inflation will continue to rise for at least the next couple of months. “

Frosty judgment on Bitcoin and NFT

The number one of DoubleLine Capital did not fail to talk about bitcoin, discouraging speculators to buy them at the current price. “It will be volatile when people come out. Maybe you should buy it for $ 25,000, ”Gundlach argues. Bitcoin has already fallen by around 40% from its peaks to nearly $ 69,000 on November 10.

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I also mention non-fungible tokens (NFT). The NFT thing went from ‘I don’t know what an NFT is’ to’ Worth $ 70 million. “This is certainly not for me, it is momentum for investors with large doses of steroids.”

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