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A complete collapse of the cryptocurrency market is predicted
The famous billionaire who predicted the mortgage crisis of 2008 expects an imminent collapse of the entire cryptocurrency market
Sep 1, 2021
1 min read
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In an interview with Bloomberg, billionaire and hedge fund manager John Paulson stated that cryptocurrencies will drop to zero and that crypto has a limited supply of void.

He also said that it does not matter how and where cryptocurrencies are now traded, in any case, their liquidity will inevitably dry up and the value will fall to zero. However, it is impossible to say for sure how long it will take.

John Paulson became famous when he made his fortune in the 200 market crash predicting the mortgage crisis.

However, he does not recommend selling bitcoin now, because the market is now very volatile and the value of cryptocurrencies is likely to only grow. At the same time, Paulson recommends buying gold, due to the limited amount of this metal.

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Recently, skepticism about cryptocurrencies was expressed by one of the officials of the People's Bank of China (PBOC), saying that Bitcoin cannot be legal tender due to the fact that it has no real value. This opinion is shared by other representatives of the NBK, thus, the Bank of China is not going to soften its policy on cryptocurrencies.

China's financial regulator is preparing to launch the digital yuan and continues to tighten policy on other cryptocurrencies. Recently, the Central Bank of China demanded to stop working with organizations serving clients that worked with cryptocurrencies.

It is more profitable and safer to trade classic currencies and precious metals with stable and safe forex brokers.

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