Strangely, but the bitcoin seems to be a child of social and market moods, said Gundlach in an interview with CNBC's financial magazine. According to him, if the shares are headed for a new stroke, this will be preceded by a decrease in the cost of the bitcoin.
Earlier this week, we witnessed extremely volatile stock market volatility, which momentarily took the indices into a correction phase. These sales, however, were preceded by a depreciation of the bitcoin.
We had a vertical rise in the bitcoin, which started at 4,500 and led the cryptocurrency to levels of about $20,000. The bitcoin found its peak in December and then collapsed. This collapse, to a certain extent, predicted the forthcoming volatility of the stock markets. If the shares are expected to suffer a new serious drop, it would be preceded by a depreciation of the bitcoin, according to Gundlach.
Even strange, Gundlach defines this dependence as quite convenient to use to predict market movements. In fact, the sentiment on the bitcoin and other speculative assets can be used by investors to predict future market movements, according to the legendary investor.
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