Schwab Strategist Dismisses Bitcoin Comparisons to Dot-Com and Housing Bubbles
Jeffrey Kleintop, chief investment strategist of Charles Schwab, told Business insider that if there is a bitcoin bubble, then it is not like dot-com and housing bubble. If bitcoin prices fall, then other bubbles will not be the same as bitcoins are not connected in the economy yet and financial structure is like dot com and housing stocks.
Any result in bitcoin prices will reflect the unique development for bitcoin. He said that Kleintop has many experts and who have differed with those who have called Bitcoin in wait for the explosion. It is not that Bitcoin is a bubble that everywhere he travels all over the world. This Kleintop whose company has managed assets of $ 320 billion.
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I think not all of them can really predict the future price of bitcoin
Bullish on 2018
Kleintop said 2018 will be a strong year for equity valuations, and the first year for back-to-back, broad economic growth in more than 10 years. The top 45 economies all are expected to grow next year, pointing to further earnings growth.
In 2017, earnings increased every month as stocks rose, he said.
Yield curves are flattening slightly, Kleintop said, which is one area of concern for 2018. The yield curve could portend a recession in 2019 or thereafter.