Peter Boockvar (Peter Boockvar) the investment officer of the Bleakley Advisory Group believes that a crazy race in the cryptocurrency market will end with a Grand collapse. Somewhat dated statement by the veteran wall Street was broadcasted by channel CNBC.
In the opinion of the investor, in 2018, the price of bitcoin could fall 90% from current levels. He calls the main bitcoin classic bubble, the air which is already beginning to break loose:
«I would not be surprised if within a year it will drop to $1000-$3000″.
The unprecedented growth of the cryptocurrency investor explains the policy of the Central banks, including the fed. It is the policy of «easy money», which supposedly mitigates the effects of the global financial crisis. If you used to be able to moderate activity by Central banks printing machines, cryptocurrencies could do to appear – says Peter.
The attitude of investors to risky assets change radically after the collapse of the cryptocurrency market. As a result, in the opinion of the expert, the collateral damage may be incurred and the stock market, but it will have a psychological background, because bitcoin has no significant effect on the global economy.
With this opinion agrees analyst mark Halpert (Mark Hulbert) that predicts the probability of falling of bitcoin prices by more than 80%.
Robert Schiller (Robert Shiller), Nobel laureate in Economics, compares the situation with bitcoin with the Tulip mania of the 17th century, but was of two minds:
«Bitcoin is likely to «completely fall apart», but may stay with us for a long time».
The head of a brokerage company, Interactive Brokers Thomas Peterfi (Thomas Peterffy) believes that a possible rise of the price of bitcoin up to $100 million, but the collapse to zero is inevitable.
Such statements with no significant changes in the tone and argument appear in each major price increase of bitcoin for several years, but after the next correction it over and over again soars even higher, and «prophets of doom» have to push the «imminent crash» of bitcoin in an increasingly distant future. But the caravan moves on.