According to foreign media reports, Wall Street veteran Peter Boockvar predicts that the cryptocurrency market will suffer a serious impact. He is not sure if this will be a sudden collapse or a slow fall, but he thinks this will be the big trend.
As chief investment officer of Bleakley Consulting Group, Bukwar believes that the cryptocurrency market is in a huge bubble. He said: "When something shows a parabolic trend, it will eventually return to the starting point."
He believes that bitcoin prices are likely to fall by 90% on the current basis. He called it a "typical bubble." "If the price next year falls to $1,000 to $3,000, then I am not surprised at all."
This price is similar to the price of bitcoin about a year ago. On Friday afternoon, bitcoin prices were slightly above $11,000.
Bukwar believes that as global interest rates rise, the crash will follow. He accused central banks, including the Federal Reserve, of triggering a cryptocurrency boom due to loose monetary policy. Such a policy was originally intended to alleviate the impact of the global financial crisis.
Bukwar said: "You have to care, if there is never excessive easing, will the cryptocurrency boom still occur?"
He believes that once the cryptocurrency market cracks, investors' attitudes toward high-risk assets will change. He believes that the stock market will become an incidental victim. But this is due to investor sentiment, not the economy.
Copper Tube Terminals Without Checking Hole
Our company specializes in the production and sales of all kinds of terminals, copper terminals, nose wire ears, cold pressed terminals, copper joints, but also according to customer requirements for customization and production, our raw materials are produced and sold by ourselves, we have their own raw materials processing plant, high purity T2 copper, quality and quantity, come to me to order it!
Copper Tube Terminals Without Checking Hole,Cable Lugs Insulating Crimp Terminal,Cable Connector Tinned Copper Ring Terminal,Tubular Cable Lugs Crimp Terminal
Taixing Longyi Terminals Co.,Ltd. , https://www.txlyterminals.com