Bitcoin "feels speculative," according to the chief equity strategist for Nuveen Asset Management.
Bitcoin prices have broken past $800 for the first time since February 2014, setting a fresh 34-month high.
The price of bitcoin is down more than 25 percent from its recent all-time highs, spurred by futures listings from major derivatives exchanges.
Bitcoin prices surged more than 80% in 2016, pushed higher by developments such as the Brexit, the halving and the Bitfinex hack.
Bitcoin surpassed $750 on 1st December, rising past this key psychological level but failing to reach $755.