Bitcoin soared more than 10% over the weekend, breaking through 30000 record high, experts warned that it had become the biggest bubble in the market

Source: huitong.com original title: bitcoin soared more than 10% over the weekend, breaking the record high of 30000, experts warned that it has become the biggest bubble in the market! U.S. stocks may be overvalued by 20% to 30%, and safe haven gold is optimistic. After entering 2021, bitcoin continues to rise, breaking through $30000 on January 2 and $34000 on January 3, setting a record high of $34792. Although some institutions believe that bitcoin can continue to rise, further rising to $40000 or even $50000, there are also cautious voices in the market. Market analyst Alice Gledhill suggests that bitcoin is still a niche market, prone to sharp rises and falls. David Rosenberg, chief economist at Rosenberg Research & Associates, even believes that bitcoin is the biggest market bubble at present. He thinks US stocks are overvalued by 20% to 30%, but is optimistic about safe haven gold. Bitcoin broke through US $30000, setting a new record. Some institutions predicted that it could rise even higher. In December 2020, bitcoin rose by about 50%, breaking the $20000 mark for the first time. After entering 2021, bitcoin continued to rise, breaking through $30000 for the first time in history on January 2 and $34700 on January 3. Antoni trenchev, managing partner and co-founder of NEXO, said bitcoin “could reach $50000 in the first quarter of 2021.”. He believes that the return of institutional investors this week could push bitcoin prices even higher. In a December report, commodity strategist Mike McGlone wrote that bitcoin is entering an increasing number of global portfolios, and the holders are no longer technology giants and speculators. Proponents of bitcoin also believe that in the case of massive central bank printing, bitcoin can serve as a store of wealth, even if inflation remains largely stagnant. In an interview on December 16, Scott minerd, chief investment officer of Guggenheim investments, said bitcoin would eventually climb to around $40000. Some analysts have warned that bitcoin is a huge bubble. Although bitcoin’s rise is like a rainbow, reaching a record high, and many institutions insist on being bullish, some analysts have also issued a warning. Market analyst Alice Gledhill believes that there is still reason to be cautious about bitcoin, partly because bitcoin remains a niche market. On November 26, 2020, bitcoin plummeted 14% on November 26, 2020, as the market warned that it was long overdue to adjust. After a sharp rise in 2017, bitcoin then plummeted by 83% for a year. Rosenberg, chief economist at Rosenberg research, a longtime bear on Wall Street, also issued a warning on bitcoin. Rosenberg believes that bitcoin is the biggest market bubble at present. “The parabola of bitcoin in such a short period of time is very unusual for any security,” he said In addition to bitcoin, Rosenberg is also bearish on US stocks. “According to our [stock market] valuation study, US stocks are overvalued by 20% to 30% based on a series of different indicators,” he said “The [bubble] may not burst in the short term,” Rosenberg said. The basic factor to maintain economic growth is zero interest rate. As long as interest rates remain at their current levels, the bubble we are in may not burst in the short term unless there is a real sharp fall in our economic activity. But we have to understand that we are investing in bubbles. ” At the start of 2021, major US stock indexes will be at record levels. The S & P 500 and Dow closed at record highs on Thursday, rising 16.3% and 7.3% respectively in the past year. The tech heavy NASDAQ index is just a little short of its all-time high, but it is still its best year since 2009, up nearly 44%. Rosenberg said he would avoid last year’s winners over the next 12 months, with key investment targets including utilities and energy stocks that lagged behind in the past year. “In the context of the stock market bubble, what I really want to do is invest in areas where there is no bubble and there is a lot of catch-up potential,” he said But there is one exception, and that is gold. Although gold has just had its best year in a decade, Rosenberg still sees it as a safe haven. “The volatility of gold is only one-fifth that of bitcoin,” he said. I’ve always been very bullish on gold, and I’m still bullish on gold. “ (daily chart of bitcoin price) at 9:49 Beijing time on January 4, bitcoin price was 32320 US dollars / piece.

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