Bitcoin to crater under “extinction level event” that WIPES OUT its value, warns investor

Monday, December 25, 2017
By Paul Martin

by: Ethan Huff
Monday, December 25, 2017

he head of an Orange County, California-based private equity group is convinced that Bitcoin is in the throes of a major crash. Eric Schiffer, the CEO of Patriarch Equity, says that Bitcoin’s incredibly high prices as of late are a clear sign that things are about to hit the fan for the popular cryptocurrency, resulting in many investors losing big time.

Rising in price from under $1,000 back in January, to nearly $20,000 today, Bitcoin’s bullish run has been nothing short of tremendous as far as investment instruments are concerned. But its days are numbered, believes Schiffer, who is taking to the media to warn people that things could get ugly – and fast.

“I don’t want people to walk through what is going to be the bloodiest financial danger of the 21st century,” Schiffer is quoted as saying.

Despite Bitcoin critics warning all year long that Bitcoin was going to crash, the digital currency has only continued to become more popular and more valuable. Just a few weeks ago, the Chicago Board Options Exchange (CBOE) opened the gates to a Bitcoin futures market, which has driven more investors into the pool.

But all of this success somehow points to impending failure, in Schiffer’s view. He warns that people should avoid Bitcoin like the plague, as getting anywhere near it could mean putting one’s savings account and even family at risk of financial fallout.

“I think bitcoin is a ‘tower of death,’” Schiffer says. “It is going to result in the imminent death of your investment – a thermonuclear death.

“Right now we are looking at a financial bubble that is bigger than the tulip craze and I believe that we are headed for a bitcoin crash that will supersede any financial worries of the 21st century,” he added. “People are going to be shocked when they try to liquify their bitcoins.”

Anti-Bitcoin critic calls cryptocurrency ‘Vegas-style gamble,’ ‘money monster’

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