Bitcoin bonanza and Dollar Tree earnings: Here's what could drive markets ThursdayHere's what could drive the market Thursday
Bitcoin bonanza and Dollar Tree earnings: Here's what could drive markets Thursday
10 Hours Ago | 01:35
As the S&P 500 narrowly closed at a record high, here are the three market themes that macro strategist Boris Schlossberg of BK Asset Management will be watching.
1. Bitcoin bonanza
Bitcoin surged to yet another all-time high in late Wednesday trading, crossing the $2,500 mark for the first time, according to CoinDesk data. The volatile digital currency has now roughly doubled in the past month, and Schlossberg sees further upside for the currency that's enjoyed a "parabolic" rise.
Now that bitcoin has broken through $2,500, "there's a very strong chance that it's going to zero in on the $3,000 level, which is going to create a massive amount of retail awareness in Bitcoin," Schlossberg said Wednesday on CNBC's "Trading Nation."
"I'm going to be watching that very carefully to see how it trades over the next day or two," he added.
Schlossberg said in an interview with CNBC earlier this month that he considers bitcoin a wise hedging play for equity investors.
http://www.cnbc.com/2017/05/24/bitcoin-bonanza-dollar-tree-heres-what-could-drive-markets-thursday.html
