Bernstein also sees cryptocurrency as a major problem. Last June on “Trading Nation,” he warned the rush to own bitcoin and other cryptocurrencies were becoming dangerously parabolic.
“Cryptos are the biggest financial bubble ever in history,” said Bernstein. “This is just a monster one.”
Bernstein speculates bitcoin could fall as much as 90% just like some tech stocks during the 2000 bubble.
“I think one wants to wait to look at the true fundamentals and look at the valuations before deciding that this is all over,” Bernstein said.
