The Tell: Want proof 2023 stock-market rally is speculative froth? Look at bitcoin, says investment firm.

by | Feb 28, 2023 | Stock Market

Think the early 2023 stock-market rally is built on a solid fundamental foundation? Bitcoin’s gains say otherwise, argued analysts at Richard Bernstein Advisors, in a Monday note. “Some have argued that the year-to-date rally in more speculative issues is a fundamental shift from value to growth. The near-50% year-to-date rally in bitcoin and other cryptocurrencies leads us to strongly doubt that is the case,” they wrote. The…

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