ICYMI: Doubleline Capital CEO Jeffery Gundlach favors Bitcoin over gold as the flagship crypto trades near the low end of its range BTC $BTC
The Federal Reserve decided to raise interest rates for the first time since 2018, taking cues from the Bank of England by hiking rates by 25 basis points in line with market expectations.
The Doubleline Capital CEO added, ''Stocks are oversold and will go higher in the immediate term but will roll over once a couple more rate hikes are in place.'' Given the rising correlation between Bitcoin and stocks, this might be positive for crypto in the near term.
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