Many people are investing in Bitcoin. According to expert investor Paul Mampilly, however, now is the worst time to invest in Bitcoin. Soon, there will be a big crash, and the price of Bitcoin will go down on a very large scale. If you have money invested in Bitcoin, there is a good chance that you stand to lose all of it as the price of Bitcoin drops.
— Paul Mampilly (@Paul_M_Guru) October 19, 2017
Instead, Paul Mampilly believes that you should invest in the stock market. He says that the people predicting a stock market crash and who say that you should invest in Bitcoin instead have it all wrong. There will be no stock market crash. They are just saying this because they have been burned by the stock market crash in 2008 and are fearful of the future. They see political turmoil after the 2016 election, the issues with Russia, problems in the Middle East, and other negative things, and they are focusing on that and not on the good things that will cause the stock market to go up. However, Paul Mampilly believes that a lot of that is in the past. The future is about the internet of things, which will cause a revolution in the economy, similar to the way the production of personal computing led to a revolution in the economy in 1982, which led to one of the largest bullish markets in history. The internet of things will make everyone so much more productive. The future is about the millennial generation, which is now coming out and has spending habits that will cause the economy, and therefore the stock market, to boom. This is similar to the baby boomer generation in 1982, which started coming out around that time.
Bitcoin, however, can be compared to the dotcom bubble. Unlike the stock market, which Paul Mampilly says will hit an all time high of fifty thousand, Bitcoin will go down because there is nothing that is pushing it up besides for speculation and the fear of missing out. People are looking at the large gains the early investors in Bitcoin made, and they want to get a piece of the pie. However, such large growth is totally unsustainable, and there is no doubt that a crash will happen soon.
Paul Mampilly is the founder of Profits Unlimited and is a frequent guest on Bloomberg and CNBC.
About Paul Mampilly: medium.com/@paulmampillyguru