Preston Bryne’s bear case for Crypto
If you’re looking for an afternoon read, check out this article on why cryptocurrencies are doomed.
Reading it, I don’t think we’re near the top yet. I’ve said for a long time that $10,000 is coming in Bitcoin and I should probably revise the higher.
The top will be when we’re watching the Super Bowl and there is some kind of advertisement for a cryptocurrency, or something along those lines.
Finally, Bryne makes one great point on the side that argues many more bubbles are coming.
“In a NIRP (Negative Interets Rate Policy) world, enormous demand for higher-risk, higher-yield investment,” he writes.