Paul Mampilly is a member of Banyan Hill Publishing Company. He is most well-known as an American investor and an incredibly well-educated financial guru. He has recently been asked to give his particular viewpoints as regards to the recent surge in the value of cryptocurrencies. Many individuals are calling the recent surge in the value of cryptocurrencies a bubble. Paul Mampilly believes that his experience as an investor has given him unique insight into the potential bubble that cryptocurrency is experiencing. At the end of the day, he believes that it is important for individuals who are worried about losing money to get their money out of the cryptocurrency market as quickly as possible. He believes this because there are numerous signs that point to a bubble forming in this market similar to the one that occurred in the technology sector during the late 1990s. Follow Paul on Twitter.
During the late 1990s, there were a lot of technology companies on the stock market that were increasing in value significantly. For example, QUALCOMM had experienced over 2600% gains over a short period of time. At the time Paul Mampilly actually owns some of that company stocks and in 1999 decided to sell all of the stock held in the technology industry. Afterward, he waited and continued to keep an eye on the stock market. He continued to increase for another year or two. During this time he wondered whether he had made the right decision or not. By the time 2002 came around all of the stocks had crashed in their value. Many of his friends who had also invested during the time that he had were calling him to complain about losing all of their money. Because of the foresight that he had Paul Mampilly was able to save his money because he sold in 1999 before the big crash.
He believes that the same scenario is playing out in the cryptocurrency market today. Faulkner currencies represent a unique technology that could potentially impact the way that financial transactions occur in the future they are still too young, and the value increases that they have experienced is too drastic for it to be anything other than an economic bubble. Even if the technology is continued to be used in the future the value of it will crash in the near term. If you are an individual, who wishes to protect their assets and is not willing to take a risk than you should pull your money out of the cryptocurrency markets.