Wall Street veteran Peter Boockvar predicts an epic crash will hit the cryptocurrency market, he does not know how and when but he is convinced it is upon us.
Boockvar is the chief investment officer at Bleakley Advisory Group and was interviewed by CNBC, “Futures Now.” – “When something goes parabolic like this has, it typically ends up to where that parabola began”
“I wouldn’t be surprised if over the next year it’s down to $1,000 to $3,000” he added. That would be a 90% drop from current levels and where the cryptocurrency was trading 12 months ago. That’s where Bitcoin, the largest cryptocurrency player, was trading less than 12 months ago. On 26 Jan, a Friday afternoon, Bitcoin was trading above $11,000.
Watch the video here: – Bitcoin could lose 90% of its value
Boockvar is not the only one predicting a massive Bitcoin crash in 2018. Learn more here – Bitcoin Price Crash Predictions for 2018
Then there are the Bulls…
Here’s what they think – More Bullish Bitcoin Price Predictions for 2018
How to Protect yourself… The first thing is to make sure the Bitcoins you have are safely stored. Learn more here – How to keep your bitcoins SAFE
If you have profits in your Bitcoin holdings it might be a prudent move to diversify some of your investment into other assets.
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