I think it is a bubble like any other bubble. The dot com bubble, we had the real estate bubble, we had the Bitcoin bubble. And the Bitcoin bubble has already popped.
Bitcoin now, is trading around 350 dollars/ bitcoin, the high was 110 or 1200. So, I think we already saw the speculative blow off and I do not think the currency will is going back up to that rate again. I think we will continue to head lower.
Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.
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