Key Words: Bitcoin could fall off cliff, drop 90%, one Wall Street strategist warns

Bitcoin could be headed for a big fall, crashing as much as 90% from its current levels, one prominent Wall Street strategist warns.

“When something goes parabolic like this has, it typically ends up to where that parabola began . . . I wouldn’t be surprised if over the next year it’s down to $1,000 to $3,000.”

Peter Boockvar

Peter Boockvar, chief investment officer at wealth manager Bleakley Financial Group, told CNBC’s “Futures Now” in a Thursday interview that bitcoin is showing signs of a classic bubble — and the air is starting to leak out.

On Sunday, spot bitcoin prices BTCUSD, +2.31% were around $11,220, down almost $2,000 from a spike above $13,000 on Saturday.

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