Finance

‘Coins like ethereum are going to be a lot higher:’ Jim Bianco

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If you can cope with sharp drops in the cryptocurrency space, market forecaster Jim Bianco believes it will ultimately pay off in spades.

“Some of these coins like ethereum are going to be a lot higher way down the road,” the Bianco Research president told CNBC’s “Trading Nation” on Wednesday. “But you’re going to have to stomach through much more of what we saw in the last week coming in the next several months or year or so.”

According to Bianco, the speculative betting is masking a bullish long-term picture. He believes cryptocurrency is successfully remaking the financial system.

“That’s got a lot of promise, and that’s really what’s significant,” he said. “The problem is the other…



Source cnbc.com

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