The ‘Wolf of Wall Street’ is saying “I told you so” about bitcoin prices’ recent retreat.
In a video shared on his Youtube channel, former stockbroker Jordan Belfort, infamously known as the ‘Wolf of Wall Street’, has claimed it’s the “beginning of the end” for bitcoin as the market has run out of fools. He believes the market has not “even crashed yet” but warned investors of an imminent meltdown where they could “lose all of their money.”
Belfort, who spoke about the “greater fools theory” in his video, which he believes is the main issue affecting the market, and will ultimately lead to its end. The Greater Fool theory is an investment theory which believes the price of a security can be justified by a rational buyer who “foolishly” believes someone else can pay a higher price for it irrespective of its intrinsic value. While hammering on Bitcoin not being a store of value, Belfort also compared the current dip in Bitcoin prices to the economic crisis of 2008 where investors were unable to find buyers for faulty mortgage-backed securities.
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thanks for upvote
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Bitcoin price is very low
Gud time to invest
Great blog dear
lol he forget one thing?
bitcoin aint like the mortgaged companies and the stock market in the year 2008 crisis.
Blockchain and decentralization is what keeps it going, all we need is mass adoption and the world of crypto will never crash even if for now Bitcoin whales keeps up with the market manipulation.
It wont last forever and it wont even dream of crashing the price
I think that is the silence before storm.
We can see bull run in next few days
you can also check my article where i talked about the future of cryptocurrencies
Kamaal ka study he bhai....keep it up
Bitcoin price drastically declined.. the reason May be the whale investors dumped the coins in the market..
Lolz just wait and watch magic..
This knowledge on based experience of him .let see
Nice blog... Keep it up....