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6811659 No.6811659 [Reply] [Original]

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.

"When something goes parabolic like this has, it typically ends up to where that parabola began," he said on CNBC's "Futures Now."

Boockvar, a CNBC contributor, contends bitcoin is in danger of dropping 90 percent from current levels. He calls it a classic bubble.

"I wouldn't be surprised if over the next year it's down to $1,000 to $3,000," he added.

That's where bitcoin, the largest cryptocurrency player, was trading less than 12 months ago. Friday afternoon it was trading above $11,000.

Boockvar sees the collapse coming in tandem as interest rates rise around the globe. He blames central banks, including the Federal Reserve, for the cryptocurrency craze due to their easy money policies that were designed to ease the effects of the global financial crisis.

"You have to wonder if we never heard of quantitative easing, would there have been cryptocurrencies?" Boockvar asked rhetorically in Thursday's interview.

Once the cryptocurrency market cracks, he contends, investor attitudes toward risk assets will change. According to Boockvar, the stock market could see collateral damage, but it would all be based on psychology not on anything that's fundamentally wrong with the economy.

>> No.6811711

Shit. SELL SELL SELL

>> No.6811737

>>6811659
oh no crypto coming down to $1k shucks i guess that means it's dead and alt coins wont flourish

>> No.6811755

How the fuck do interest rates affect the crypto market?

>> No.6811776

This, ratings on Wednesday,general FUD...

The futures expiring on the 26th are all shorts

>> No.6811813

>>6811711
Be a good goyim and invest in our (((funds))) instead of crypto.

After 35years of slaving you can afford a roof over your head

>> No.6811864

>>6811776
i thought the same...

>> No.6811888

Thank fuck I'm on that VEN train, China fightiiiing

>> No.6811908

so what btc crash? jump to tether for the dip and buy back in cheap?

>> No.6811942

>>6811776
kek. not selling. those mofos are waiting to buy everything up for cheap.

>> No.6812076

>>6811659
The kike isn't wrong. I mean we can see it happening right in front of our eyes. This slow bleed is something that happened in 2014 and it didn't end well. But now we're substantially higher and the influx of normies buying our bags will eventually dry up.

>>6811942
Why would they want them? That's just delusion. They want to crash the market and get everybody back into fiat, and so far they haven't even had to bring out the big guns because the bears are taking care of the crashing themselves.

>> No.6812143

>>6812076
>Why would they want them?
literally free money if they make it go up after

>> No.6812197

>>6812143
Assuming they can dump it at a net win considering the market will have lost faith

>> No.6812216

>>6811755
Raising rates increases the value of the dollar. So maybe growth will slow, but I see no reason for it to stop as fiat is still a centrally controlled shit token. A lot like XRP.

>> No.6812291

>>6812216
Will interest rates finally let me dump this shit coin?

>> No.6812428

>>6811659
> He blames central banks, including the Federal Reserve, for the cryptocurrency craze.
>stock market could see collateral damage, but it would all be based on psychology not on anything that's fundamentally wrong with the economy
The same man that did not predict any crash in 2008 and does not believe that anything is fundamentally wrong with the economy after the Fed pumped in $2 trillion and have been unable to unwind QE at the $10 billion a month was stated in September.

>> No.6812613

>>6811659
>Boockvar sees the collapse coming in tandem as interest rates rise around the globe.
>implying interest rates will ever go back up without everything collapsing again
>implying they have the balls to even try

>"You have to wonder if we never heard of quantitative easing, would there have been cryptocurrencies?" Boockvar asked rhetorically in Thursday's interview.
>"in a world where banks don't inflate away their negative balances at taxpayers' expense, cryptocurrency might not exist!" really makes you think. somebody give this guy a Nobel prize

>> No.6812642

>>6812428
The rest of the economy is in a way worse bubble than crypto ever was, but it's kind of alleviated by the fact that the jews control it. They do everything to protect fiat from losing its value suddenly, so as long as you're not partaking in the stock bubbles or housing bubbles you are gonna survive.

>> No.6812659

>>6812613
>sorry for my bizarrely formatted greentext

>> No.6812686
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6812686

>>6812613
> >"in a world where banks don't inflate away their negative balances at taxpayers' expense, cryptocurrency might not exist!" really makes you think. somebody give this guy a Nobel prize

>> No.6812947

>>6812197
The market won't lose faith because these shitcoins are useful (the good ones at least). They solve problems that Fiat currencies can't, so the demand for them will only grow.

>> No.6813105

>>6812947
But the problem is that by the time the bear market is over and we've bled to god knows how low, the banks may have already adopted crypto and use it for cross-border transactions. That's pretty much all the advantage crypto really has over fiat, fast, simple and easy transactions, and the banks can just steal all the good parts of it. It's either that happens or they stop the cash-crypto flow. They won't give up their power easily

>> No.6813138

>In a world where banks don't inflate away their negative balances at taxpayers' expense, cryptocurrency might not exist
>Nothing in place to stop banks continuously doing this.
>Yet somehow Cryptos are in a bubble and going to crash.
Where do they find these experts? The fool strawmans himself.

>> No.6814030

>>6813105
what you mean another 2 months until it turns bull again

>> No.6814048
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6814048

>>6813105
They always win.

>> No.6814061

>>6811737
That's exactly what would happen
Even when btc drops 200$ all alts shit the bed for days

>> No.6814118

>>6814048
So it seems. I'm not going to be one of the casualties fighting them when the endcome is inevitable.

>>6814030
I don't obviously have any idea when the next bull run will be, but I don't see it happening any time soon, and when it happens I think we might be lucky to see price levels as high as they're right now.