Paul Mampilly has said over and over again that Bitcoin will likely crash. The reality is that he did not invest in Bitcoin for a reason. He chooses his investments very carefully. He weighs a lot of factors when he looks into which investments are going to be worth his time. The thing about Bitcoin is that it is a unique asset. It does not have any fundamental value. Instead, its value is based entirely on what the public thinks about it. The problem is that if the public interest starts to decrease, then the value of Bitcoin will drop very quickly. We have already seen this happening, and it will likely happen again. There is no way to predict whether or not Bitcoin will go up or down. Visit Bloomberg to know more about Paul Mampilly.
For those people who say that Paul Mampilly is only warning against Bitcoin because he is unhappy about his decision not to invest in it at the beginning, you obviously don’t know anything about Paul Mampilly and his history. The fact is that his friends told him the same thing when he warned them against holding onto their stocks from the dotcom bubble. At that point, Paul Mampilly did indeed invest in those stocks, but he sold them all to take a profit while others were holding onto them. The end result was that the stocks crashed, just like Paul Mampilly predicted. The opposite of what his friends said came true. He made money because he took profits early on, while they lost money because they did not sell like he advised them to.
He even had a friend called Tess who refused to talk to him because he warned her not to keep holding on to her investments. However, he watched as she lost money, and he watched as so many of his friends lost thousands and sometimes millions of the money that they had invested and earned on their investments. Read this article at Forexvestor.com.
There is another major problem with a bubble, says Paul Mampilly. Not only is the price of the asset dependent on public opinion, but the emotions of investors are affected. After all, there is a media frenzy about the asset, and this causes them to place a higher value on it then they would have. This causes them to hold on to their assets when they should really be selling them. Check: https://medium.com/@paulmampillyguru