Bitcoin price: Is cryptocurrency bubble going to burst? Bitcoin peaked at £14,251.01 ($19,026.21) on Monday, according to the CoinDesk exchange before slumping down to £13,221.59 ($17,651.85).
On Sunday, Bitcoin hit a new record high price as the cryptocurrency board past $20,000.
However, fears have been raised that Bitcoin will “spiral out of control” after warnings from experts.
Independent research analyst Ronnie Moas has instead said the crypto token could become the “most valuable currency in the world” at a price tag of £224,280 ($300,000).
He said: “Bitcoin is already up 500 per cent since I recommended it in the beginning of July, and I’m looking for another 500 per cent move from here.
“The end-game on bitcoin is that it will hit $300,000 to $400,000 in my opinion, and it will be the most valuable currency in the world.” Watch live as the Bitcoin price continues to rise, with no sign of the huge crash.
Oliver Isaacs, Cryptocurrency investor, believes the cash coin bubble will eventually burst with massive consequences for investors.
He said: “Personally I think Bitcoin will be the biggest bubble of our lifetime.
“Bitcoin has already reached over $10,000 a coin and it will not be long until bitcoin valuations and prices continue to rise and spiral out of control.
“Currently if you invest in Bitcoin you can make a significant amount of money, but similar to investing in the Stock Market it is important to be cautious and prevent putting all your eggs in one basket.
“Due to the lack of Bitcoin regulation investing in Bitcoin is a risky business and no one knows if or when Bitcoin will crash.” Eric Schiffer, CEO of Patriarch Equity investment group also warned investors about placing huge sums in bitcoin.
Mr Schiffer described bitcoin as the “bloodiest financial danger of the 21st Century”, adding that it is a “tower of death” and will result in the death of your investment.
SOURCE: EXPRESS.CO.UK