Jeff Gundlach: Bitcoin is Soaring Because of China
GUNDLACH: BITCOIN SURGE LINKED TO SHANGHAI COMPOSITE FALL
Jeffrey Gundlach, CEO of DoubleLine Capital, tweeted the above, making the assertion that the surge in Bitcoin price has coincided with a drop in the Shanghai composite, saying:
Bitcoin up 100% in under 2 months. Shanghai down almost 10% same timeframe, compared to most global stocks up. Probably not a coincidence!
This drop in the Shanghai composite has not followed the trend of most major indexes which have so far climbed this year.
That the Shanghai composite fell this year was seen to be a sign of it being under pressure from increasing Chinese regulation, with the index being down almost 10 percent over the last two months.
http://bitcoinist.com/jeff-gundlach-bitcoin-soaring-china/
