Are thinking about investing in Bitcoin? You have to take the advice of veteran investors into account. One such investor is Paul Mampilly. He has years of experience. He has been through twenty five bubbles, he says, and he can tell that Bitcoin is just another bubble. He does not know exactly when it will burst, but burst it will, and it will happen sooner rather than later.
There are many problems involved in Bitcoin. First of all, Paul Mampilly warns, there is no solid reason why it should be rising so high. Most people investing in Bitcoin do not even understand how the thing works. They are just investing in it because the media has been focusing their attention on it. In absence of any other valid reason for its shooting up, we must point to media attention and all the rookie investors putting all their money in it as the reason it is going up. However, if that is the reason, it is bound to come down pretty soon. Such a thing is short lived and can not last long.
Paul Mampilly warns that the Bitcoin bubble is not that different than the dotcom bubble or any other bubble in modern history. However, the dotcom bubble is probably the closest that you can come to the Bitcoin and Ethereum bubble.
Paul Mampilly had a close friend who invested in the dotcom stocks during the bubble a few decades ago. She thought she was rich, as she excitedly told him of her newfound wealth. Of course, Paul Mampilly knew a thing or two about what was going to happen next. It is not that he did not own any of the stocks that were involved in the bubble. However, he knew that they could not continue rising forever, so he sold them as soon as he saw he would make a nice profit. They continued going up, but he knew he made the right decision, especially when he saw the bubble burst. However, his friend did not heed his advice. She got angry and did not want to talk to him anymore. At the end of the day, she lost out on all the wealth that she had earned just a short time ago.
Paul Mampilly won the investment competition by the prestigious Templeton Institute. He is the head of Capuchin Consulting.
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