Every product here is independently selected by Mashable journalists. If you buy something featured, we may earn an affiliate commission which helps support our work.
Bitcoin’s price is in the gutter — well, if you compare with that $19,940 peak about a month ago. At its current price of $10,437, it’s still up roughly 1,100 percent in the past 12 months.
The recent drop could be a result of a recurring trend that’s in fashion again: Wall Street experts and analysts having a contest in predicting how low Bitcoin could go.
Peter Boockvar, chief investment officer at Bleakley Advisory Group, predicted Bitcoin could drop to as low as $1,000 per coin this year, CNBC reported Sunday. According to Boockvar, bitcoin is a “classic bubble,” one that might burst as soon as central banks worldwide start increasing interest rates. Read more…