CandleFocus Famous Analyst Talks About the Recent Rise in Bitcoin and the Fate of BTC! “That’s Insanity”
2024-12-13
Author: Content Editor
The President of Payne Capital Management, Ryan Payne, issued a warning about the future of Bitcoin, likening it to the 2008 housing bubble. He highlighted Bitcoin's volatile history and speculative nature, citing significant price declines of over 60% to 70% on multiple occasions. Payne criticized Bitcoin as an unreliable store of value and expressed concerns about MicroStrategy's heavy investment in the cryptocurrency. He argued that the company's current valuation is unsustainable and heavily reliant on Bitcoin's rising price. Payne advised against investing in Bitcoin during the current rally, stating his belief that it will eventually crash.
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