Bitcoin is a Bubble, Back Emerging Markets, says PineBridge

2018 should be another year of positive returns for shareholders, say PineBridge. But emerging markets will outperform the UK, Europe and US

Emma Wall 15 January, 2018 | 8:49AM

bitcoin is a bubble says PineBridge

"Every stock market cycle has a bubble," says Markus Schomer, chief economist for asset managers PineBridge Investments. "This business cycle it is bitcoin."

In US dollars, bitcoin has increased in value 1,540% over the past year, and to Schomer, this is a warning sign that the market is becoming overheated. However, he says that global stock markets are not yet in crisis, and risk assets should continue to deliver positive returns to investors in 2018.

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Emma Wall  is former Senior International Editor for Morningstar

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