Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Byron R. Wien, Vice Chairman, Blackstone Advisory Partners, a subsidiary of Blackstone Group LP (NYSE: BX), is famous on the Street for his annual list of Ten Surprises that he has been releasing at the start of every year since the past 30 years.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
Wien was a guest on the latest edition of the Wall Street Week where, half way through 2015, he talked about the things that he got wrong in his this year's list.
Fed Rate Hike
"Look, there are surprises and you are bound to get a few of them wrong," Wien said. "I said the Fed would act earlier than people thought. So, that meant March. Obviously I was wrong about that. I think, they will raise them in September. I think, the economy is going to do much better in the second half. I think, those numbers will appear and, I think, the Fed is dying to go."
He continued, "So, and look what are they going to do, everybody makes such a big deal about this. They are going to raise rates a quarter, a half of 1 percent. How is that going to affect the market? The yield curve will still be very steep, the next recession is years away. So, I think, this market is good."
Markets Will Rise 15 Percent
"One of my 10 surprises was the market would rise 15 percent. I have taken a lot of heat on that one. Market is up 3 percent, fundamentals are going to improve through the remainder of the year. Interest rates have gone up a little bit, but they are going to stay low. Earnings are going to be better than expected. I think, I have a shot at 15."
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.