EKIP– Expert Club for Economics and Politics A Different Opinion
The bursting of the Bitcoin bubble will happen when the global economic situation begins to deteriorate. This was commented by the editor-in-chief of the Expert Club for Economics and Politics (EKIP) Georgi Vuldzhev on the "Investbook" show with host Dimitar Vuchev.
"It is difficult to predict when this will happen, but given that central banks are already tightening their monetary policy, liquidity will gradually begin to run out, there will be less money in the banking system, debt servicing will become more expensive and businesses will become more pessimistic about the future."
According to him, when economic growth begins to slow and business and consumer sentiment begins to become more pessimistic, then there will certainly be a reversal in sentiment regarding Bitcoin.
According to him, the moment this happens, there will be a massive sell-off.
"When the price of an asset depends so much on people's positive sentiment, all it takes is one large institutional investor to pull out of the market and it can trigger an avalanche of selling."
Vuldzhev believes that the only way to avoid a collapse is for Bitcoin to become an international financial standard in the next few years and, for example, replace the dollar.
"In my opinion, this is not possible, but if you think it is possible, invest in Bitcoin."
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Original post from Bloomberg TV
