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.
Speaking to CNBC Wednesday afternoon, Wien said that 2016 will prove to be a "down year for the market," despite many major indices trading near historical all-time highs. As such, he is predicting a decline in the market in the months ahead.
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Wien cited the markets high valuation levels that are above its historical averages. However, he doesn't necessarily believe the market will revert to a "bear" territory; rather, the market is "very fully priced" at current levels.
Nevertheless, Wien is positive on stocks over the longer term. He noted that many companies are sitting on hoards of cash on their balance sheet and will eventually invest the cash in their businesses. At that point, companies will "find a way to make money" even if the U.S. economy is growing at 2 percent.
For the time being, though, equities are "a little ahead of themselves now," and "we could have a pullback from current levels." Over the long term, he is "positive about equities."
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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.