's meteoric rise as an example of extreme frothiness. It was up 36% in the first five trading days of the year and is above 300% over the past six months.
"It's just part of the bull market in everything," he said. "It's very important whether you're in or not in bitcoin to just stare at the chart, and realize when it's going straight up — it's certainly a sign of exuberance, of speculative excess." Despite his warning, Yardeni isn't sounding the alarm yet. He's optimistic on the economic recovery due to coronavirus vaccines and the fiscal and monetary landscape.
"The first half of this year, the blue wave will probably continue to be bullish," he noted. "We're going to get more government spending. We're going to have the Federal Reserve front a lot of that government spending through quantitative easing. I think interest rates will remain pretty low."in the final six months of 2021., according to Yardeni, will lead to inflation risks due to the massive amounts of stimulus and demand increases.
"In the second half of the year, we may be on the lookout for some consumer price inflation which would not be good for overvalued assets," he said.
TradingNation I thought we just came out of a Bear Market meltdown March 15? Is there another one oh Great Wizard?
TradingNation We sell high and buy more on the dips. By the time the big boys come in, they will never get bitcoin at 6k again. 13K if you lucky.
TradingNation Worse prediction ever with so much liquity in the market how can we see a melt down anytime soon... come on
TradingNation This is the softest bear case article I habe ever seen. A forecast of what 15% higher, talking about a melt up not down. In fact I don't see much in this article that matches the headline. fakeNews. Misleading public. Censor it.
TradingNation wallstreetbets Edward Yardeni is concerned the market will get smoked. The long-time bull, who spent decades running investment strategy, compares Wall Street euphoria to the dot-com bubble in 1999. The Nasdaq from 1998 to 2000 went up over 200%. Now, we’re up almost 100%.
TradingNation saying this without specifying -when- that meltdown will strike, and how intense it will be is like saying 'the weather will be worse than today sometime in the future'
TradingNation Bitcoin is the future guys
TradingNation Hey did you know Coronavirus you go home and quarantine for 14 days lesson 1 if you get covid-19 you go on respirator and die lesson number two these are two different things
TradingNation Of course we’re about to have a illegitimate Democrat who should be retired and can’t move or speak become our President. Short everything