“There is an expectation that the stock market will be propped up,” Chisholm said. “That expectation isn’t there for Bitcoin. Because stocks are more established and expected to do well, they have been historically supported.”. Nov 06, · Doubleline Capital’s CEO, the billionaire “bond king” Jeffrey Gundlach, has predicted that the stock market is going to “crack pretty hard.” While he is bearish on the stock market and long-term bonds, Gundlach says bitcoin and gold are good for hedging against inflation. Jeffrey Gundlach Discusses Stock Market Outlook, Gold and Bitcoin. Oct 14, · The most recent one is bitcoin market crash which happened after 10 years from its previous economic crash. That is important, barring very minor corrections, the stock market has been hitting new uptrend records for the last 10 years.
Will bitcoin go on the stock marketHere's Why Bitcoin Is Safer Than Stock Market, Novogratz Explains
The billionaire said that at some point, it would be okay to buy stocks. But that's not the case at present, which would depend on who would win the elections. He also said he thinks Democratic candidate Joe Biden would win but the market might not like it, citing some of Biden's campaign promises. Even though Bitcoin is said to be correlated with the stock market, Novogratz thinks the correlation won't last forever. He also briefly touched upon quantitative easing measures, including printing more money to reenergize the economy in the midst of the pandemic.
Adding more woes to this are interest rates , which have hit 0. However, this might hurt the US more than it helps, especially since it is a country that has an overleveraged debt cycle waiting to pop. Source: Twitter. The surge in the stock market is a house of cards waiting to collapse. If and when this does happen, holding cash will not help and neither will stocks.
Hence, the only reasonable alternative to preserve wealth is gold. The last resort will be bitcoin, which as mentioned above, is an uncorrelated asset that can act as a hedge against the collapse of the US markets.
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