Wall Street Veteran Peter Boockvar says 90% of Bitcoin’s value could get wiped out. According to him, an epic crash will hit the cryptocurrency market. Although he is not sure when and how soon this is going to happen but he says ‘it is coming’.
Boockvar is the chief investment officer at Bleakley Advisory Group and like Warren Buffett he says cryptocurrency is a bubble and air is about to come out some time very soon and signs are already showing.
“When something goes parabolic like this has, it typically ends up to where that parabola began,” he told CNBC’s “Futures Now.”
He foresees Bitcoin dropping to 90% from current level this year.
“I wouldn’t be surprised if over the next year it’s down to $1,000 to $3,000,” he added.