Cryptocurrencies are in a gigantic bladder, from which air has already begun to emerge. This was shared by Bleakley Advisory Group Investment Director and Wall Street veteran Peter Bukvar in an interview with CNBC.
He believes that during the year the price of bitcoin may collapse by 90% from the current level.
“I will not be surprised if during the year it will fall to $ 1,000-3,000,” Bukvar added.
Bukvar accuses central banks, including the US Federal Reserve, and their “easy money” policy, which is designed to mitigate the effects of the global financial crisis, in unprecedented growth.
“If the central banks did not use their printing presses so actively, then the cryptocurrency could not have been”, – the investor asserts.
Peter Bukvar added that the collapse of the cryptocurrency-market would change the ratio of investors to risky assets.
“In this situation, the stock market can suffer a concomitant damage, but it will have only a psychological basis, because bitcoin is not something that can have a significant impact on the world economy,” he said.
Earlier reported, that Bitcoin’s collapse was included in the list of “shocking forecasts” by Saxo Bank in 2018.