United States, Stock Market, Chris Harvey discussed on Wake Up Call


Are the the us consumers want is to spend so i do think it's going to be a great postchristmas sales season all right so now let's take a look at the debt clean because of skills looking at that going so last night i see yet another headline bitcoin implosion could spill over into stock market warns wells fargo's chris harvey so now i think we've had the british economists we've had janet yellen we've got this chris harvey guy from wells fargo all saying be careful of bitcoin and then yet i look this morning and bitcoin seems to be coming back after it had fallen over the past few days if he gets up like 10 percent or something this move bitcoin worked for an old quote corny thousand down to eleven thousand five hundred then rallied back to 15000 so yeah i mean the bitcoin it's coming back but there are a lot of people that do think if bitcoin implode cryptocurrency implode this could somehow make its way into the equity market now i understand in theory what they're saying but i'll say this the the amount of money in cryptocurrency weight now is is a fly on the rear end of the equity markets so i believe that all these cryptocurrencies couldn't zero and i don't think it's going to have a lasting effect on the stock market that's me but i do understand what people are talking about when they say if bitcoin specifically does implode it could have a carryover effect more so in terms of um maybe market sentiment that i think it what it actually means in dollars and cents since then.

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