Cryptocurrency Market Shows Signs Of Out Of Control Bubble

SPUTNIKNEWS – February 21, 2018: In an interview with Mark O’Byrne, Executive and Research Director of Goldcore.com: Given the degree of volatility we’ve seen in recent weeks and the massive 60% collapse we saw and also the huge risks we see with the various crypto exchanges around the world. The risk is Bitcoin’s volatility itself but also the intermediate risk and the counterpart risk behind how you own that Bitcoin? And central banks do feel threatened by Bitcoin but at the same time I think the cryptocurrency marketplace is showing the signs of an out of control bubble. I think the smarter people in the cryptocurrency space realized the gains we were seeing were oversized and were therefore due a sharp correction. Some of those guys were diversifying into Gold and Silver, the two primary precious metals which have a proven storage of value. I think this trend will continue due to the degree of volatility we’re seeing in markets and also the big risks that are out there in terms of things like Brexit and the Trump presidency. Ultimately, Gold is a reliable store of value because fiat currencies haven’t been a store of value for some time.

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