2018-7-18 00:54 |
“You got to $20,000 because the base of people who truly believe in bitcoin was joined by many, many, many people who jumped on the bandwagon.
Nicholas Colas, co founder of DataTrek Research, said in May that he’s advising people not to buy bitcoin in the short term.
“We’re not seeing a lot of incremental engagement with people interested in seeing bitcoin for the first time,” he said.
But the bitcoin faithful remains excited, and some experts see the digital currency surpassing its record highs from the end of 2017.
In May 2018, he said bitcoin is a valuable form of insurance since it is “fundamentally not correlated” to the S&P 500 index.
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