DoubleLine CEO Jeffrey Gundlach cautioned Tuesday against buying cryptocurrency in the current market because of where the Federal Reserve is in its interest-rate cycle. “I’d certainly not be a buyer today,” Gundlach said at the Future Proof wealth conference in Huntington Beach, Calif. He spoke as higher than expected consumer price index inflation readings Tuesday sent markets tumbling. Bitcoin’s price fell about 10% during selling that saw the Dow Jones Industrial Average fall 1,200 points for its worst loss of the year. Bitcoin prices previously rose above $67,000, peaking in November 2021, on the back of the Fed’s “free money” policies, he said. The U.S. central bank slashed borrowing costs to rock-bottom rates in the early days of the Covid-19 pandemic to help support the economy. Fed officials have been raising interest rates regularly and aggressively since March to tame stubbornly high inflation, and have signaled they will continue to do so until inflation readings...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...