{"id":15152,"date":"2021-12-10T00:54:03","date_gmt":"2021-12-10T00:54:03","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/financial-adviser-warns-crypto-is-one-of-the-biggest-bubbles-ever-says-its-going-to-be-ugly\/"},"modified":"2021-12-10T00:54:03","modified_gmt":"2021-12-10T00:54:03","slug":"financial-adviser-warns-crypto-is-one-of-the-biggest-bubbles-ever-says-its-going-to-be-ugly","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/financial-adviser-warns-crypto-is-one-of-the-biggest-bubbles-ever-says-its-going-to-be-ugly\/","title":{"rendered":"Financial Adviser Warns Crypto Is \u2018One of the Biggest Bubbles Ever\u2019 \u2014 Says \u2018It\u2019s Going to Be Ugly\u2019"},"content":{"rendered":"

The president of Payne Capital Management has warned that crypto is \u201cone of the biggest bubbles ever.\u201d Stressing that the crypto market is \u201cbecoming a bigger and bigger casino,\u201d he predicts that the <\/strong>bubble will eventually burst and \u201cIt\u2019s going to be ugly.\u201d<\/strong><\/p>\n

Crypto Is a Big Bubble Waiting to Burst, According to the Financial Adviser<\/h2>\n

Financial adviser Ryan Payne, president of Payne Capital Management, talked about the future outlook for bitcoin and the cryptocurrency market on Yahoo Finance Monday.<\/p>\n

Payne co-designs his firm\u2019s investment and financial planning strategies while supervising all the financial advisers in his firm. Prior to establishing Payne Capital Management, he spent almost eight years as a financial adviser at Merrill Lynch.<\/p>\n

The executive began by agreeing with Berkshire Hathaway Vice Chairman Charlie Munger<\/a>, who recently stated that the current markets are wilder than the dot-com bubble. Noting that \u201cthere are pockets of bubbles being formed,\u201d the financial adviser stressed:<\/p>\n

This whole bitcoin thing, this whole cryptocurrency, is one of the biggest bubbles ever.<\/p>\n

Munger, who is often called Warren Buffett\u2019s right-hand man, also commented<\/a> on cryptocurrency, particularly bitcoin. He commended China for banning crypto and said he wishes crypto had never been invented.<\/p>\n

Payne noted that bitcoin can still go higher, adding:<\/p>\n

There\u2019s too much money out there that can funnel into this market. It\u2019s just becoming a bigger and bigger casino.<\/p>\n

\u201cAt the end of the day, we\u2019re not using it for that much more commercial use. It\u2019s just more people speculating,\u201d he continued, adding that \u201cit\u2019s very analogous to when the tech bubble burst.\u201d<\/p>\n

The president of Payne Capital Management further opined: \u201cThe reasons for owning it don\u2019t make a lot of sense because really it\u2019s not a great store of value as we know. It\u2019s extremely volatile. It\u2019s fake scarcity. It\u2019s not like gold that has real scarcity.\u201d He emphasized:<\/p>\n

I do think eventually that bubble is going to burst. It\u2019s going to be ugly.<\/p>\n

Noting that the global crypto market cap \u201cis somewhere over $2 trillion,\u201d Payne detailed: \u201cWhen the dot-com bubble burst, those dot-com stocks were worth like half a billion dollars \u2014 inflation-adjusted that\u2019s like $1 trillion in today\u2019s dollars. Most of those stocks became worthless. Even Amazon went down 80% to 90% when the tech bubble burst. It took you like 14 years to get back on your money.\u201d<\/p>\n

He concluded: \u201cSo I do think that bubbles are there. They are pervasive right now. The smart money here is you can get out early. It\u2019s better to be early than late and get into some of those cyclical names which are selling off right now. Diversify your portfolio. Protect yourself because eventually the music\u2019s going to stop and when it does, no one\u2018s going to tell you ahead of time.\u201d<\/p>\n

What do you think about this financial adviser\u2019s advice? Let us know in the comments section below.<\/strong><\/em><\/p>\n

Bitcoin News
\nMarkets and Prices, Amazon, bitcoin bubble, Bitcoin vs gold, Bubble burst, crypto bubble, cryptocurrency bubble, Ryan Payne, Ryan Payne bitcoin, Ryan Payne crypto, Ryan Payne cryptocurrency<\/p>\n","protected":false},"excerpt":{"rendered":"

The president of Payne Capital Management has warned that crypto is \u201cone of the biggest bubbles ever.\u201d Stressing that the crypto market is \u201cbecoming a bigger and bigger casino,\u201d he predicts that the bubble will eventually burst and \u201cIt\u2019s going to be ugly.\u201d Crypto Is a Big Bubble Waiting to Burst, According to the Financial…<\/p>\n","protected":false},"author":0,"featured_media":15153,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-15152","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/15152"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=15152"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/15152\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/15153"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=15152"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=15152"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=15152"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}