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Countdown to the Closing Bell with Liz Claman
Published | Updated

Claman on Call: Bitcoin Bonanza

Claman on Call: FBN’s Liz Claman with an after-hours web exclusive on the markets, Alibaba, the latest tech trends, Bitcoin and MasterCard’s partnership with Apple. Video

It was a sea of red for the major market indices on Tuesday -- the Dow had its steepest sell-off since Aug. 5.

Alibaba was down on its third day of trading, at one point the Chinese e-commerce giant fell as low as $86.62 a share, which means that unless you bought the stock within the first half hour of trading on its Friday debut, you've lost money on this name. One man who helped underwrite the Alibaba IPO, Evercore Partners' Michael Price joined FBN and says that while the U.S. is still king when it comes to technology, countries like China and India are catching up. Price is one of the top tech experts on the Street and has overseen deals like Time Warner Cable's spin-off from Time Warner and Metro-PCS' merger with T-Mobile.

He also shared what he thinks is the biggest tech trend right now -- head to FOXBusiness.com/OnCall to find out.

It was a bitcoin bonanza, and Tim Draper, Draper Fisher Jurveston founder and managing director, who's one of the original bitcoin believers, joined FBN to discuss the future of the digital currency. He thinks that each bitcoin will be worth $10,000 in three years. Plus, he shared his somewhat controversial plan for the state of California.

And could the future of payments be mobile pay? MasterCard's Chief Emerging Payments Officer Ed McLaughlin discussed why the credit card company is teaming up with Apple on Apple Pay. He says the partnership is good for MasterCard and while people won't stop using their credit cards completely within the next year, Apple Pay provides a new way for consumers to make more transactions.

Here is what you need to watch for tomorrow: At 10 a.m. ET new home sales numbers come out. Given Monday's weak existing home sales data, the market will be eager to see how new home sales performed. And then at 10:30 a.m. ET, the Energy Information Administration releases the latest petroleum status report.

Be sure to check out all of today's interview on FOXBusiness.com/OnCall and tune into Countdown to the Closing Bell every week day at 3 p.m. ET.