01 Apr '13, 7pm

ANALYST: All Of My Clients Think There's A Bitcoin Bubble, But A 'Perfect Storm' Is Causing Prices To Surge

ANALYST: All Of My Clients Think There's A Bitcoin Bubble, But A 'Perfect Storm' Is Causing Prices To Surge

flickr/Peter Taylor It's probably fair to say that the big rise in Bitcoin this year has caught many by surprise. Today, the value of one Bitcoin hit $100 . In early March, they were trading below $35. In January, they were trading below $15. We've noticed a lot of interest from readers and investors in recent weeks as the virtual currency has gone parabolic. However, as of yet, we only know of one Wall Street analyst who has taken up writing about Bitcoin: ConvergEx Group Chief Market Strategist Nick Colas. Naturally, we were curious what Colas was hearing from his clients, who we figured must be asking some questions as well. Here is what Colas told us (emphasis added): The reaction from clients has been pretty uniform: it must be a bubble. Too far, too fast, too new … you get the idea. Moreover, it’s very hard to short Bitcoins, so there’s no real way to express that pe...

Full article: http://www.businessinsider.com/colas-clients-think-bitcoi...

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