by Crypto will probably be zooming again next year. I agree with John Paulson, though, it's backed by nothing, so could dissappear overnight. I think he describes it quiet succinctly. He also predicts that massive inflation may coming soon, but let's hope not."cryptocurrencies like Bitcoin and Ethereum, which promise independence from governments and large financial institutions, 'will eventually prove to be worthless,' "'Once the exuberance wears off, or liquidity dries up, they will go to zero. I wouldn’t recommend anyone invest in cryptocurrencies,' he said.He added: 'I would describe them as a limited supply of nothing. So to the extent there’s more demand than the limited supply, the price would go up. But to the extent the demand falls, then the price would go down. There’s no
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Crypto will probably be zooming again next year. I agree with John Paulson, though, it's backed by nothing, so could dissappear overnight. I think he describes it quiet succinctly.
He also predicts that massive inflation may coming soon, but let's hope not.
"cryptocurrencies like Bitcoin and Ethereum, which promise independence from governments and large financial institutions, 'will eventually prove to be worthless,'
"'Once the exuberance wears off, or liquidity dries up, they will go to zero. I wouldn’t recommend anyone invest in cryptocurrencies,' he said.
He added: 'I would describe them as a limited supply of nothing. So to the extent there’s more demand than the limited supply, the price would go up. But to the extent the demand falls, then the price would go down. There’s no intrinsic value to any of the cryptocurrencies except that there’s a limited amount.'
The Mail
Investor John Paulson calls cryptocurrency 'worthless bubble'