Paul Mampilly is an American investor and a financial guru on the other hand. He has got his exceptional insight about cryptocurrency and its imminent currency. He is the former hedge fund manager and the prior winner of the prestigious Templeton Foundation Investment competition. According to him, the cryptocurrency crash is about to happen. It is just a while before individuals lose their money. Read more articles by Paul Mampilly at Banyan Hill.
1999 was a year of a great bubble. It almost exploded, and this could leave many investors having no investments. He recalls that he had a friend by the name Tess. She owned technology stock shares that were up higher than 1,000 percent. According to the American investor, the present cryptocurrency is the same as the 1999 internet explosion.
This bubble was composed of key companies with an excellent reputation. Paul Mampilly mentioned that Qualcomm Technology Stock had up to 2,619 percent. He retells investors that the stocks did not represent obscure companies. He explained that they symbolized major businesses listed in the Nasdaq Composite Index.
In 1999 he sold all his stock before the bubble exploded. Moreover, he went on monitoring the stock market as the prices kept on increasing tremendously. Some of the stocks went to the extent of reaching 20, 30 and 50 percent. Initially, the investor thought that he had made a wrong decision of selling all his stock. He came to realize that he made a correct decision when all stocks tumbled to phenomenal lows in 2000 and 2001. This made him be eased that he did not miss any of his cash. Read more about Paul Mampilly at Talk Markets.
Every person who invested in major cryptocurrency during the begin of this year now rich within few months. The ones who bought bitcoins the start of the year are now millionaires. He believes that bitcoin, Litecoin, and Ethereum are going to crash someday. He, therefore, advises those want to invest in these cryptocurrencies.
Bitcoins was the original key cryptocurrency.
It is still the most common. Other cryptocurrencies emerged. These included Litecoin, Ethereum, and ripple. An economic bubble happens when any particular aspect of any form begins to be traded, bought and sold at a price that is higher than its original value.
Since bubbles are rarely identified before they occur, some warnings can make investors begin withdrawing to safeguard themselves. Paul Mampilly gives the best warning as to when there are an enormous public and popular culture interest in an asset.