If you invest in cryptocurrencies such as Bitcoin, investment guru Paul Mampilly has some words of caution. Mampilly warns investors and potential investors that cryptocurrency is a bubble and will, inevitably implode.
Paul Mampilly is one of Banyan Hills investment gurus, which they seem to be collecting. Mampilly owns a massively successful publication Profits Unlimited which he uses to address current stock trends and personal picks to a massive audience of subscribers. The $97 a year publication boasts an impressive 100,000 subscribers. So, when Mampilly says that cryptocurrency is a bubble it’s not a bad idea to at least hear him out.
Paul Mampilly relates the current public obsession with cryptocurrency to the dot-com crash of the early 2000s. Mampilly remembers when some of the dot-com investments rose over 1,000% a trait shared with Bitcoin, and he warns that this public obsession is going to eventually pass and the crash will happen. Don’t get him wrong, he isn’t a genie. He has no idea when the crash will actually happen. Watch videos on Paul’s Youtube channel.
Paul Mampilly also clarified that he wasn’t saying that cryptocurrencies weren’t incredible, nor was he saying that blockchain technology isn’t going to massively change many aspects of our lives. He is saying, however, that the current aggressive valuation of Bitcoin is unfounded. He’s not wrong. After all, most of us think it’s a bubble or, at the very least, question it every other day.
Mampilly thinks that the time will come when cryptocurrencies will be traded alongside stocks on the stock exchange. But, until then, cryptocurrency investment continues to be a dangerous investment. The trade price of Bitcoin far outweighs its actual value. The valuation is so high because of public interest and obsession with the new technology just like dot-com bubble.
Paul Mampilly is pretty consistently up, and his publication has drawn in a massive cult following for a reason. His words hold weight. I would suggest everyone investing heavily in cryptocurrency keep this in mind. Even if a bubble is imminent that doesn’t mean you can’t make money off of Bitcoin. Bubbles and crashes can be a fantastic way to make money. Being able to read the market is one of the greatest strength that any investor can possess. This is a strength that Paul Mampilly holds in spades. Good luck investing out there, and watch out if you have too much of your portfolio in Bitcoin, that could end up hurting your bottom line.
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— Paul Mampilly (@MampillyGuru) May 24, 2018