Bitcoin is leading indicator of stock-market Bottom, Mobius says
If you’re a stock trader, you should probably be turning your attention to cryptocurrencies right about now. That’s according to Mark Mobius, who co-founded Mobius Capital Partners after spending more than three decades at Franklin Templeton Investments. “Cryptocurrencies are a measure of investor sentiment,” he said in an interview Wednesday. “Bitcoin goes down, the next day the Dow Jones goes down. That’s the pattern you get. That shows that Bitcoin is a leading indicator.” Only when institutional and retail investors truly “throw in the towel” and stop putting more money into the market because of losses is when sentiment has hit rock bottom, he said. “That’s the time to start buying stocks.” Read here.