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Why Investors Should Avoid The Cryptocurrency

Bitcoin Cryptocurrency

Today, we will talk to the man who is now famous and powerful. His name is Dennis Gartner. He is a publisher and editor read by virtually anyone who is on Wall Street.

— Corporate profits are really strong now. Does that mean this rally continues?

— I think this is a bull market. Profits are getting stronger, the economy is doing well, destruction of regulations is important and very beneficial, the tax cut is also terribly important here. As people ask me how far the stock market can go, I tell them it’s a bull market, it will continue until it stops.

I also think it is a global rally because global stocks everywhere are up. European shares are up. Japanese shares, Chinese shares, Russian shares, American shares are up. I would say this should be attributed to global growth. If I were the president, I would not take credit for what’s going on. I’ll just simply say this is a global plow horse economy that continues to move from the left to the upper right, and it will continue.

— Do you know what a mess around Bitcoin is? He’s again down. Everybody asks me and I will ask you. Should I buy Bitcoin? Should I get involved in Blockchain?

— They are actually completely different. Blockchain will change the manner in which we trade export units, how we trade stocks and foreign exchange. Blockchain is extraordinarily intelligent and high-tech new movement, but the Bitcoin is nonsense. It is truly the tool of the 21st century and, please, avoid it. This will end in tears, these things always do, this will end too.

— Let’s sum up. It’s a bull market rally and it ends when it ends. It’s the global boom that takes the credit here, and you wouldn’t touch Bitcoin with a ten-foot pole. One last question for you. Big tech are a huge tear for a couple of years now. These companies are now very highly priced. Would you buy any of them at such prices?

— Honestly, no. I’m an old guard trader and investor. I would rather buy our own Corporate, US steel or other simple things that are competent in growth, domestic, and international. If you take a look at what steel prices and steel stocks have done lately, U.S. steel is up 35% since the start of the year or since late in December. That feels close to what’s going on in high tech. It takes a younger man to understand high-tech.

— I’m at least as old as you. We have Microsoft up 52% since the election. If I would have listened to you, I would be for as a church mouse right now.

— You will be in fine shape. You might be up to 25 or 30 % right now. I do understand corporate, steel, transports and those sorts of things. They make sense to me. I’ve learnt one thing about business: Do the things that you understand and avoid the things that you don’t understand.

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