When "The Bubble" bursts
Bitcoin will be around for a long time, but its price will drop down to $1,000-$3,000 after the bubble bursts, — predicts Peter Boockvar, the Chief Investment Officer at Bleakley Advisory Group in the interview with CNBC. Boockvar added that any corresponding drop would just be psychological, because Bitcoin is “not something that really is that relevant in a 19 trillion dollar economy.” He told CNBC that the boom in crypto markets can be referred to easy-money policies of central banks and money printing, which makes some cryptocurrencies, such as Bitcoin, more attractive to investors, since they’re finite and safe from debasement and inflation. Robert Shiller, an economist who won a Nobel prize for his work on financial bubbles, equated Bitcoin to one. But, in January 2018, noted that it will be around for another 100 years.