Bitcoin is a 'gigantic price chase based on nothing': Cryptocurrency bear warns [CNBC]
Churchill Capital Corp V Class A (CCV)
US:NYSE Investor Relations:
cmcsa.com/investors
Company Research
Source: CNBC
show chapters Bitcoin has made some investors quite wealthy, but one Wall Street veteran won't touch it. The Lindsey Group's Peter Boockvar believes the bitcoin boom is a classic mania that will ultimately inflict a lot of pain. He calls it a gigantic price chase based on nothing. If bitcoin went to $50,000 or $5 tomorrow, I don't think either price would surprise anybody, the firm's chief market analyst said Tuesday on CNBC's Futures Now . Its concept I get — an alternative currency, an alternative form of transacting for goods and services. But the price itself is nothing more than a historic bubble. In just the past six months, bitcoin has surged 541 percent and is now bouncing above $17,100. Bitcoin futures are up 12 percent since trading made its debut at the Cboe. The big gains extend to its smaller competitors such as litecoin . It has ripped 260 percent higher over past week, gaining 70 percent on Tuesday alone. The problem with crypto
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