Bitcoin has more upside potential compared to gold
U.S. Federal Reserves quick tightening tightens stock market volatility
Bitcoin is more attractive than gold until the FOMC meeting in May Doubleline Capital CEO Jeffrey Gundlack, who is called the new bond king on Wall Street, said it is necessary to pay attention to Bitcoin instead of gold.
According to CNBC on the 16th, CEO Jeffrey Gundlack said that he thinks Bitcoin investment is much more attractive than gold in the short term. said.
In an interview with CNBC on the same day, CEO Jeffrey Gundlock diagnosed that both Bitcoin and gold had entered a plateau.
BTC is locked between $40,000 and $60,000 and gold between $1,750 and $2,000, Gundlock said, adding that the two are likely to trade at this price point for the time being.
However, he said that while gold is currently maintaining the $1,900 level, Bitcoin is moving at the level of $40,000. said.
On the other hand, some analysts say that if the Federal Reserve raises its benchmark interest rate, the price of gold will fluctuate.
This is because gold, which is classified as a safe asset, becomes less attractive if inflation is eased by the Feds decision to raise the base rate.
Gundlach said it was unclear how quickly the Fed would raise interest rates, and that Bitcoin is more attractive than gold before the upcoming FOMC meeting in May.
Subsequently, the US stock market rose sharply as the market was relieved as the Fed announced a 0.25%p rate hike plan.
As of 8:50 am on the day, the Bitcoin price is trading at $41,146.19 on the coin desk, up 4% from the previous day.