Bitget App
Trade smarter
Open
HomepageSign up
Bitget>
News>
Bank of America Strategist: U.S. stocks and cryptocurrencies are forming a bubble

Bank of America Strategist: U.S. stocks and cryptocurrencies are forming a bubble

Bitget2024/12/06 09:26
BTC+0.60%

On December 6, Bank of America strategist Michael Hartnett stated that the strong rebound in U.S. stocks and cryptocurrencies makes these asset classes appear to be in a bubble. According to data compiled by institutions, the price-to-book ratio of the S&P 500 index soared to 5.3 times in 2024, close to the peak of 5.5 times reached during the tech bubble peak in March 2000. Hartnett said that if the S&P 500 index approaches 6666 points, about 10% higher than its current level, then there is a high risk of "over-adjustment" at the beginning of 2025. The bank's bull-bear market indicator has not yet shown signs of prosperity among global investors.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

Trending news

More
1
Solana introduces SIMD-0337 proposal to implement rapid leader handoff mechanism and enhance network performance
2
Jupiter launches Ultra v3 trading engine, offering improved trade execution and MEV protection

Crypto prices

More
Bitcoin
Bitcoin
BTC
$106,934.08
+3.22%
Ethereum
Ethereum
ETH
$3,875.92
+4.97%
Tether USDt
Tether USDt
USDT
$1
+0.02%
BNB
BNB
BNB
$1,108.61
+7.49%
XRP
XRP
XRP
$2.35
+6.98%
Solana
Solana
SOL
$185.54
+6.05%
USDC
USDC
USDC
$1
+0.02%
TRON
TRON
TRX
$0.3129
+1.97%
Dogecoin
Dogecoin
DOGE
$0.1871
+6.06%
Cardano
Cardano
ADA
$0.6350
+5.97%
How to sell PI
Bitget lists PI – Buy or sell PI quickly on Bitget!
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new users!
Sign up now
Trade smarter