Excerpt from Bloomberg quoting DataTrek co-founder Nick Colas:
…. “Meanwhile, interest in digital currencies has waned, according to Google trends data compiled by Nicholas Colas of DataTrek Research. Search volumes have trended lower as Bitcoin fell toward $20,000 this year.
Bitcoin “works best when new investors come into the fold with fresh money. It is hard to argue that the current global investment and economic environments favor speculative asset classes,” Colas wrote in a note. “There will be a time to look at virtual currencies from the long side; we just think it is a bit too soon to consider that trade now”….
Full article here on Bloomberg.