Bitcoin is a highly-regarded digital currency that experts have said is a great investment both for enhancing your portfolio and as a personal asset. But stock expert Paul Mampilly of Banyan Hill believes otherwise and analyzes Bitcoin in an article he wrote recently. He stated that he had missed the prediction of Bitcoin gaining the value it did in the market and would’ve encouraged investors to buy it last year, but there’s been troubling developments with its current price. Follow Paul on Medium.
Bitcoin is now forming what Paul Mampilly refers to as it’s bubble. Bubbles form whenever a product becomes too high in demand that its price reaches levels that are way too high. This is what happened right before the tech stocks had their crash in 2000, mortgages bottomed out in 2008 and a similar concept could await in the US national debt. Bitcoin is valued high right now, but Mampilly predicts it will probably come down considerably in the next few years.
Paul Mampilly was born in India but was provided the opportunity to study in the US at a top business school in New Jersey. He became quite a sensation on Wall Street because he quickly learned how to manage large commercial banking accounts and gave great investment advice. Mampilly served in advisory roles at Deutsche Bank, Banker’s Trust, ING and Sears and then he became managing director of one of the best performing hedge funds at the time, Kinetics International Fund. His ability to predict stocks rising and falling was quite unique, and it helped him win an investment competition in 2009. Paul Mampilly also made a huge earning in his portfolio when he bought the initial stock of Sarepta Therapeutics, a major pharmaceutical company. Visit dailyreckoning.com to know more about Paul Mampilly.
Paul Mampilly may have been earning a great paycheck while working in investment banking, but he wasn’t happy because he had to spend too many hours in the office, and he wanted to move away from helping just the wealthy and powerful people to helping people on Main Street. He joined Banyan Hill because that organization provides quality information for low prices and gets that information from out in the field reports. Mampilly writes three newsletters that cover stock investments from beginner investments in “Profits Unlimited,” intermediate level stocks in “Extreme Fortunes” and advanced stock trading in “True Momentum.” Previous companies Paul Mampilly has bought stock in include Facebook, CEMEX, and Netflix, and he’s currently advocating buying stocks in Internet of Things companies.