Paul Mampilly is an American financial guru and investor who has his perception as well as insight into the whole issue of cryptocurrency bubble which is about to bust. He is a former hedge fund manager who believes there is an imminent crash waiting to happen on the cryptocurrency bubble. Although Paul Mampilly is not in a position to say when the cryptocurrency bubble is likely to burst, he is sure of one thing that it’s a matter of time before investors lose their hard earned money. To explain the cryptocurrency bubble adequately, Paul uses his experience of the year 1999 which similar situation occurred leading to loss of investors capital. According to his latest article Advice on Bitcoin and the Cryptocurrency Bubble, Paul provides an example of the events of 1999 that led to investors losing money. Read this article at Daily Forex Report. In the year 1999, there was a decomposition of major stocks which formed one large bubble which comprised companies with high reputations. The companies’ stocks were listed highly in Nasdaq ranging up to 2619 percent. Another dozen consisted of technology stocks with 1000 percent, while other were ranging at least 900 percent. However, the above stocks represented actual companies as listed in the Nasdaq rather than obscure companies the case of bitcoins. Read more about Paul on Interview.net.
The bubble of the Qualcomm and the decomposed major stocks rose with great heights indicating the market stock was going insane. As a result, the bubble kept on attracting new investors who put their money on the stock indexes. The new investors did not know that they were about to lose their investment, the bubble exploded. Paul Mampilly states that cryptocurrency bubble has the same similarity with the 1999 bubble and it will explode soon. In his article, Paul says he sold his every stock in 1999 before the bubble exploded. The decision to sell all his stock was the incessant stock greed which was now becoming a normal part of life since the stock kept on growing with an extraordinary margin of percentage. He advised one of her friend Tess to cash in on all her shares but decided to decline the advice and instead pushed more. However, instead of realizing the 1000 percent gain from her investment, Tess ended up with a zero balance in her account. Paul believes cryptocurrency is a huge bubble which is waiting to burst. The main reason why he believes so is that every investor who has invested in cryptocurrency for the past few months has become a millionaire. Currently, Bitcoin is valued more than $19000 which indicates crashing is imminent.