BAML Initiates Coverage On Bitcoin - Business Insider

Bank of America: Bitcoin Bubble Is Already Popping

A team of Bank of America Merrill Lynch (BAML) researchers is arguing that bitcoin is one of the "greatest asset price bubbles in history."
In a note released Sunday, the team led by chief investment strategist Michael Hartnett went so far as to categorize the current market, which has seen a 60 percent correction so far in 2017, as a bubble that is already popping, Bloomberg reported.
The bank published a chart comparing bitcoin with famous financial manias: the Mississippi Company and South Sea Company in the 18th century, gold, the U.S. stock market in 1929 and the Dutch tulip bubble in 1637.
A published chart shows that the bitcoin bubble has the greatest asset price appreciation by a significant margin. At its peak, bitcoin's price was nearly 60 times what it had been three years before. Dutch tulip prices only rose by a factor of around 40, the researchers said.
According to CoinDesk's Bitcoin Price Index, bitcoin peaked at $19,783 on Dec. 17. At the time of writing, it trades at $6,835.
BAML's chart shows the aftermath of famous historical bubbles as well as their run-up, indicating that once prices crash, they remain at their new, lower levels.
The same has not proved true of bitcoin so far, however. The recent bitcoin bubble is not history's - or event bitcoin's - greatest bubble. The price of bitcoin shot up 120-fold in 2010 and 2011, to around $11, before crashing. Its rise in 2013 and 2014 was also much steeper than the recent bull market.
That being said, comparisons between the 2017 bubble and previous ones were unfair, the note said. The 2017-2018 bubble had more capital invested in the market than either 2010-2011 or 2013-2014.
The same factor complicates comparisons between bitcoin and the stock market. For example, in August 1929, the New York Stock Exchange's listings were worth well over $1 trillion, adjusted for inflation.
submitted by dominicbagot to u/dominicbagot [link] [comments]

Ripple XRP Top 75 Banks. Swift Ripple Same TEAM Working With BAML Global Financial Leadership Conference 2019 BITCOIN Y PREDICCION 8 MAR BITCOIN Y MERCADO CRYPTO WIN ... 1 MILLION BTC MOVED IN 30 MINUTES?! Deutsche Bank: BITCOIN REPLACING FIAT 2030 Finextra interviews BAML: Blockchain no longer a concept

Research. Bitcoin Suisse provides its customers and interested readers with insights on trends and developments in the crypto space. We provide an in-depth look at selected topics ranging from cryptocurrency fundamentals to market analyses. Decrypt Season 2020. Our periodical research publication covering topics all about the crypto space. Available for subscription. Decrypt Season 2019. Our ... Bank of America Merrill Lynch The game just changed. Bitcoin, the bizarre electronic currency that seemingly came out of nowhere and has been taking over financial market headlines, is now being ... Deutsche Bank AG Deutsche Bank Research Frankfurt am Main Deutschland E-Mail: [email protected] Fax: +49 69 910-31877 www.dbresearch.de DB Research Management Stefan Schneider 29. Januar 2018 Bitcoin Meinungen, Mythen und Missverständnisse. Bitcoin: Meinungen, Mythen und Missverständnisse 2 29. Januar 2018 EU-Monitor. Bitcoin: Meinungen, Mythen und Missverständnisse 3 29. Januar 2018 ... This is according to a list from the banking giant Bank of America Merrill Lynch (BAML) in which it included some of the best and worst asset classes of the decade. Bitcoin Became One Of The Best Asset Classes In The Last Decade. According to BAML, an investor who would have paid $1 for a Bitcoin in 2010 would now have a $90,026 investment ... The Federal Reserve Bank of Dallas has published a paper showing how cryptocurrency markets are affected by crypto regulatory actions. The research also determines whether the authorities have ...

[index] [45824] [19709] [5071] [44584] [30961] [45115] [38427] [13988] [17155] [11311]

Ripple XRP Top 75 Banks. Swift Ripple Same TEAM Working With BAML

Peter Jameson, co-head of Product Management, GTS EMEA at Bank of America Merrill Lynch, talks about the immediate and practical benefits of blockchain and h... WATCH LIVE DAILY: https://ivanontech.com/live 😎 FREE CODING WEBINAR: https://academy.ivanontech.com/code ️ START TRADING (get great starter deals): https:... Fünf Fragen an Jochen Möbert, Analyst von Deutsche Bank Research, zu Kursschwankungen und der Zukunft der populärsten Kryptowährung. Mehr: https://dbresearch.de. Bob K. Bench (Director of Applied FinTech Research, Federal Reserve Bank of Boston), Robleh Ali (Research Scientist, MIT DCI), and Sonja Davidovic (Economist... Start trading Bitcoin and cryptocurrency here: http://bit.ly/2Vptr2X Bitcoin is the first decentralized digital currency. All Bitcoin transactions are docume...

#