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90% of bitcoin's value could get wiped out, Wall Street veteran Peter Boockvar warns

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https://www.cnbc.com/amp/2018/01/19...its-value-wall-st-veteran-boockvar-warns.html

Wall Street veteran Peter Boockvar predicts an epic crash will hit the cryptocurrency market.

He isn't sure if it'll come to a grinding halt or be a slow and steady drop — but he says it's coming.

Boockvar, chief investment officer at Bleakley Advisory Group, is certain crypto is in a giant bubble, and the air is already coming out.

How many of y'all niggas invested in this crypto currency
 
I think it's demise is calculated tho. Shit was fuckin up the global markets too much i think.

Now banks gonna sink it and then buy that shit pennies on the dollar then regulate it while everybody who was a og or day1 in the poor house
 
I have some, I got in recently but I'm not using this is as a get rich thing. I knew the government was going to shut this shit down when people were becoming millionaire's off of literally play money.
 
I'm monitoring it, I haven't invested. I think it will slow down but all this was a test: to figure out what currency with be the face of the future. It will proceed to do what it does quietly and there will be money to be made.
 
But i think another crypto currency will rise to the top.
This just like the dotcom bubble of the 90s. Basically you gotta find that one lane that's an Amazon.com that will ride out the nose dive and come out on the other side.

I thought it might be bitcoin but it might not.

Cryptocurrency not going anywhere tho. That shit here to say.
 
And cryptocurrency has been one of the GOAT shorting opportunities given to my generation. And I missed out. Too paranoid lol smh
 
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Digital currency is an inevitability. Because the United States keeps printing more money (quantitative easing) the price of goods is going to steadily increase against the dollar and more important the value of labor and production is going to become stagnant.

People losing jobs to ai or seeing salary decreases while experiencing tax increases mean people gonna be looking for ways to dodge tax audits.

Cryptocurrency is on par with cash under the table. The only reason it's not perceived as better is because people still trust what they can hold in their hand more.
 
Eventually digital currency is gonna come on the scene, it's already here. Most of banking is just trading digital numbers that never get printed.
But once digital cashless becomes a concept there is nothing to keep people from creating new versions of cryptocurrency to fly beneath the radar.
 
Sion said:
Well they will exist in a different form but they're not gonna be costing some crazy ass amount per unit like they are now. The issue banks have is money laundering, that's why there's a push to regulate it. Banks don't make money from currencies that's not their business but they can lose a ton of money and be gravely impacted by money laundering.
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This is literally the only thing hurting bitcoin. People are trying to treat it like FOREX as opposed to an alternative and untraceable form of currency which was it's initial purpose. People used bitcoin on the silk road all the time when the site was still up. People use it now in the deepweb for the same purposes.

It's relative inaccessibility is what's holding it back tho i agree.
 
90% of money now is digital currency. Including the form or green backs we spend on the daily now. We need to find that crypto currency and invest.
 
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