Investor Who Predicted 2000 & 2007 Market Crashes Says Bitcoin Bubble Will Burst
January 5, 2018
Chief investment strategist and co-founder of Grantham, Mayo, & van Otterloo Jeremy Grantham described Bitcoin as a 'crazy mini-bubble' that will burst soon.
Today Grantham is one of the most experienced and influential investors of the financial world. He is famous for his successful predictions of many downturns in the market, including ones happened in 2000 and 2007. Now the investor believes that Bitcoin bubble will eventually suffer a collapse. He believes that it will happen in the next 6 to 24 months.
Grantham advises to be attentive to the news because they might be a sign of a forthcoming burst:
"My favorite advice once again: Keep an eye on what the TVs at lunchtime eateries are showing. When most have talking heads yammering about Amazon, Tencent, and Bitcoin <...> we are probably down to the last few months."
Some fellow investors of Grantham are fully agree with him. For example, a famous american billionaire investor Charlie Munger said that Bitcoin is '