Creative Planning Inc.: Bitcoin Is A ‘’Dead Man Walking’’

In today’s bitcoin news we have another prediction coming from Peter Mallouk, the chief investment officer at Creative Planning Inc., according to which Bitcoin is a dead man walking and it will eventually drop down to zero.

Mallouk is a familiar bitcoin skeptic to the crypto community and he believes that BTC bulls are extremely delusional and that they don’t realize that the asset is worthless. He believes that the current bear market is a proof that the end for BTC is close.
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He wrote in Forbes:

 “It won’t go quietly, but the recent precipitous drop may be the beginning of its inevitable and inexorable death spiral. Or there could be a dead cat bounce. Either way, I see bitcoin as a dead man walking.”

Mallouk doubled down on his prediction and now he believes that the bottom for bitcoin is zero and that BTC is down on that road since it is a speculation and fraud asset. However, other cryptocurrencies and blockchain will continue to live on.

Despite not believing in bitcoin, he notes that the blockchain technology is a revolutionary one and it will dramatically influence and change how industries operate and do business. Also, he advocates that the blockchain revolution won’t help save bitcoin so it is better for crypto enthusiasts not to expect that in the first place.

When talking about the number one cryptocurrency, Mallouk said that if people are hoping to earn a lot from investing in bitcoin, maybe it is a better idea to throw darts at microcap stocks but if users are willing to lose everything they got on Bitcoin, then they should go for it.