Bitcoin May Have Been Hot At One Point, But Paul Mampilly Says It’s Collapsing Now

Is cryptocurrency a wise investment or does it spell trouble if you go all in on it? According to Paul Mampilly, the most popular cryptocurrency Bitcoin fits in the latter category. Bitcoin was a good choice for investing just a couple years ago that Mampilly admits even he missed out on, but with its price having gone to extraordinary levels due to becoming extremely popular, Mampilly says it could crash soon. Mampilly said what’s happened is because it’s too popular, people are paying too much for Bitcoin which means as sharply as its value accelerated, it’s going to go pretty steadily in the opposite direction now. He mentioned how the same thing happened in the dot-com bubble of 1999 and the housing bubble in 2008. But he did say there is another digital currency that might be worth investing in that he shares in his subscription newsletter.

Paul Mampilly began writing newsletters because after years of giving advice to only accredited and institutional investors on Wall Street, he believed everyone in the 99% category needed to have the information he possessed. He joined a team of authors at Banyan Hill Publishing and began sharing his insights in “Profits Unlimited” and “Extreme Fortunes,” though he is now sending out another newsletter known as “Extreme Fortunes.” Mampilly shares his personal portfolio with his newsletter subscribers and shows them how they can enter the stock market without needing the middleman brokers.

Prior to writing newsletters, Mampilly was a big bank research assistant and later a hedge fund portfolio manager. His career began at Deutsche Bank after graduating from Montclair State University and included positions at ING, Sears, Banker’s Trust and Royal Bank of Scotland. His hedge fund career started in 2006 when he joined the hottest new firm on Wall Street known as Kinetics International which was touted by Barron’s magazine for being able to get clients returns as high as 43%. Mampilly also took part in the investment competition of 2008 and 2009 hosted by the Templeton Foundation during which he took $50 million and got an 88% gain even during the worst of the financial crisis.

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