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Janet in Trading psychology,

Here’s why UBS is bullish on blockchain, but not bitcoin

Skeptical about buying bitcoin, but think the underlying technology driving the red-hot digital currency has world-changing potential?

UBS has such a split view, seeing the cryptocurrency as a dangerous place to put one’s money, even as it expects blockchain technology to revolutionize the world. The investment bank argued that the recent jumps in cryptocurrency valuations—bitcoin prices are up more than 500% thus far this year, while rival Ether has soared more than 3,400%—as “a speculative bubble,” adding that it was “highly doubtful whether they will ever become mainstream currencies.”