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Here’s how bitcoin’s latest surge could be indirectly signaling that recession fears are hitting a fever pitch

China iron ore trader

  • Bitcoin recently surged above $8,000 to its highest level in almost a year.
  • It’s no coincidence that this occurred as global investors worried about a recession, according to Michael Hartnett, the chief investment strategist at Bank of America Merrill Lynch.
  • Visit Business Insider’s homepage for more stories.

What does bitcoin have to do with the next recession?

Michael Hartnett, the chief investment strategist at Bank of America Merrill Lynch, sees at least one link that’s worth keeping in mind.

Its genesis is a trend that has dogged investors since the end of the 2008 financial crisis: the hunt for yield. read more >>>

Source:: BusinessInsider.Com