stock valuations to bitcoin in that "it is totally disconnected from fundamentals," its

Fragile markets are "on the edge of chaos," according to one asset management firm, which has compared what it deems an overvalued stock market to cryptocurrency bubbles. "Stocks are in complete bitcoin territory," Francesco Filia, chief executive at asset management firm Fasanara Capital told CNBC Wednesday. The impending tipping point for markets, per Fasanara's analysis, is due to a synchronicity of enterprise overvaluation, high indebtedness, low cash balances and a drawback in flows from central banks. "Valuations on stocks sometimes feel like bitcoin because in a way it is totally disconnected from fundamentals," Filia explained. "It's purely based on sentiment and flows from central banks and the private passive investment community." Bitcoin is a decentralized cryptocurrency meaning that unlike fiat currencies such as the dollar, it is not backed by a central authority. Critics have said that this gives it no inherent value. Bitcoin saw huge price gains in 2017. According to textbook valuation metrics, he stressed, valuations on indexes like the S&P 500 are some 60 percent away from where they should be. "There is not one enterprise valuation that would say that this market is properly priced."

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Filia is certainly not the first to call an overheated stock market. Many experts predict an imminent correction or even a full-blown crash, while well-known market watchers have warned that today's stock market is the most overvalued on record — more so than in 1929, 2000 and 2007. U.S. markets closed lower after hitting record highs Tuesday as stocks appeared to continue their rip-roaring run of the past year, with the Dow Jones in 26,000-point territory and the S&P 500 at more than 2,770 points. The comparison to cryptocurrencies is warranted "because (bitcoin) is the purchase for resale by a naive group of investors who are buying just because it's going up," Filia posited, echoing the words of Bridgewater Associates founder Ray Dalio in September 2017. "I could well apply that to stocks," Filia added.