Bitcoin’s 90% value could get wiped out, veteran Peter Boockvar warns 

Nishanth Shetty

Nishanth Shetty

January 22, 2018 7:20 am

Bitcoin's 90% value could get wiped out, veteran Peter Boockvar warns | Coindelite News
11488 Total Views

Veteran Peter Boockvar warns that Bitcoin’s 90% value could get wiped out

Wall Street veteran Peter Boockvar predicts an epic crash will hit the digital currency Market.

He isn’t sure on the off chance that it’ll go to a pounding stop or be a slow and steady drop — yet he says it’s coming.

Boockvar, the investment officer at Bleakley Advisory, is sure crypto is in a giant bubble, and the air is as of now turning out.

“When something goes illustrative like this, it normally ends up to where that parabola started.

Boockvar contends bitcoin is under threat of dropping 90% from current levels. He calls it a classic air pocket.

“I wouldn’t be surprised if throughout the following year it’s down to $1,000 to $3,000”.

That is the place bitcoin, the largest digital currency player, was exchanging less than 12 months back. Friday evening it was exchanging above $11,000.

Boockvar sees the collapse coming pair as interest rates rise the world over. He blames national banks, including the Central bank, for the digital currency craze because of their easy cash policies that were designed to ease the effects of the worldwide money-related crisis.

“You need to think about whether we never knew about quantitative easing, would there have been cryptocurrencies?” Boockvar asked logically in Thursday’s meeting.

Once the digital currency market cracks, he contends, investor attitudes toward risk assets will change. As per Boockvar, the stock market could see blow-back, yet it would all be based on psychology — not on anything that is generally amiss with the economy.

Bitcoin is a Scam says Former CEO of Paypal

PayPal Former CEO Bill Harris calls Bitcoin a Scam Bill Harris, Former CEO of Paypal has shared an opinion on bitcoin where he called the digital currency. He said: “Bitcoin is a scam a colossal pump-and-dump scheme, the likes of which the world has never seen.” Harris’s discussion targeted Bitcoin …

UK-based Startup App to Add Ripple(XRP) Soon

Ripple(XRP) to be Included in Revolut Global Money App A global banking alternative based in the United Kingdom named Revolut plans to add Ripple (XRP) any moment. This decision was taken after it said Bitcoin, Litecoin, and Ethereum to its app used for financial transactions. Using the standard Revolut account, …

Nasdaq CEO said, ‘Would Consider’ Creating a Cryptocurrency Exchange

Adena Friedman CEO of Nasdaq says they are Open to become Cryptocurrency Exchange On Wednesday, CEO of Nasdaq proposed that the company could open a digital currency exchange in the Future. The subject came up during an interview with CNBC, in which CEO Adena Friedman showed openness to the idea. …

Nasdaq Tech to be Used as a Monitor Trading Platform by Gemini

Crypto  Exchange Gemini is Going to Monitor Trading through Nasdaq Tech On Wednesday Cryptocurrency exchange Gemini announced that it is collaborating with Nasdaq for monitoring trading activities on its platform. The announcement says that Gemini will be using Nasdaq’s SMARTS Market Surveillance offering for automatically identifying any potential price direction …

Cashierest Faced Internal System Error and Gave Free Coins to Users

Internal System Error at Korean Digital Currency Exchange Gave clients Free Coins A South Korean Digital Currency exchange said it suffered an internal system error which hit withdrawals. The exchange asserts that clients were able to withdraw five times the no. of coins they asked. It is requesting for the …

CasinoCoin (CSC) Planning to Collaborate with Ripple for Further Online Gambling

Ripple Methodologies to be Used by CasinoCoin (CSC) to Implement Online Gambling Involving Blockchain technology A lot of similarities are shared between Casinos and cryptocurrencies; having a massive financial industry with a skeptical view. Casinos are, however, benefiting the operator versus the gambler, while cryptocurrency still lacks trustworthiness. Coincidently, the …

Press Release