Wall Street experts said the growth of BTC drive investors into the stock market
The stock market expert and founder of BirinyiAssociates LaszloBirinyi believes that since January 2017, alarming rise in prices of bitcoin has increased by 1950 percentage points, is the catalyst for global financial market as a whole, to attract new investors to enter the stock market more.
He added that the crypto currency frenzy has also provided a much-needed boost to the stock exchange traders “”.
Birinyi told CNBC in a telephone interview that bitcoin fever was forced back into the market more idle cash on the sidelines.
Bitcoin is of considerable interest from the catalyst. It also gives the transaction at the table in the hedge fund guy in a booster. Suddenly, more and more people realize that the market is changing, the stock market, there is a way to make money.”
However, according to Birinyi, bitcoin in the past few weeks have been characterized by similar bubble. He added that if bitcoin is indeed a crypto currency bubble, so it has exceeded the size of some of the largest in the history of the financial bubble, including the end of the 90s NASDAQ bubble of last century. Birinyi also said that he is not willing to invest in long-term bitcoin, but he thinks that it is more suitable as a trading tool.
In fact, he claimed that in December 18th the Chicago Mercantile Exchange (CME) launched the second global bitcoin bitcoin trading futures success.
“I make $3000 an hour. This is not the investment funds. This is your going to spend money on buying new golf bag.”
Although the most well-known digital currency also have some doubts, but more and more investors to enter the Wall Street encryption currency market. The famous American investor BillMiller told reporters recently, his hedge fund 50% of the funds are invested in bitcoin.
Recently, the mainstream media reported bitcoin surge, also paved the way for the promotion of other encryption currency.