Cookies on the Business Insider India website

Business Insider India has updated its Privacy and Cookie policy. We use cookies to ensure that we give you the better experience on our website. If you continue without changing your settings, we\'ll assume that you are happy to receive all cookies on the Business Insider India website. However, you can change your cookie setting at any time by clicking on our Cookie Policy at any time. You can also see our Privacy Policy.

CHART OF THE DAY: The Insane Parabolic Rise Of Bitcoin

Matthew BoeslerApr 2, 2013, 02:25 IST

The parabolic rise of Bitcoin has caught a lot of people off guard this year and is generating a ton of investor interest.

Nick Colas at ConvergEx Group, the only Wall Street strategist we know of so far who has written about the Bitcoin market, says all of his clients think the virtual currency is in a bubble.

When one looks at a chart, going all the way back to 2010, it's easy to see why the word "bubble" is being tossed around among investors.

Whether it continues to go up is anyone's guess, but Colas thinks there are five broad themes converging to create a "perfect storm" behind the current rise of Bitcoin.

Click here to read his take >