Is the Bitcoin a balloon?

The Bitcoin is a balloon and its real price is about 100 dollars or nearly 99% below its current levels, said Katsunori Sago, chief investment officer of the Japanese Post Bank.

"The bank would consider potential purchases of crypto levels at similar levels, but there are no plans to shorten the Bitcoin because it is too volatile,"
he added.
"During the combo bubble, we had a serious appreciation of the technology companies. But at least it was a time when people used the services of Yahoo or Rakuten companies.
"Today I see a lot of people doing business with Bitcoin, trading them, but I have not seen any of them use them in real life. Therefore, from this point of view, the situation today is even worse than at the time of the com balloon, "Sagos notes.
He adds that his friend, who has no previous experience in the financial industry, has recently asked him about his opinion of the crypto.
"When people who have nothing to do with finance ask you such a question, it is normal for this market to experience great difficulties within a few months. From the experience they have, this is a very important signal. This has happened to me twice more - in 2000 during the Dow Balloon and in 2007, when the indices of a number of capital markets recorded record values ​​to follow Lehman Brothers bankruptcy and the global financial crisis.
"According to Sagos, the cost of the Bitcoin may reach up to $ 10,000 a share before the CME Group offers futures on the market that will allow the shortening of the crypto. This, as we informed you days ago, is expected to happen by the end of 2017.
Sagou says it is difficult to predict when the bubble will burst, so the bank is not interested in taking short positions in the Bitcoin ...

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