Bitcoin will descend to $ 1000 this year, predicts the CIO

Peter Boockvar, investment director of Bleakley Advisory Group, sees the potential of Bitcoin (BTC) to stay for a long time, but with a significant price drop when the Bitcoin bubble explodes, according to CNBC sees a possible fall in prices of the Bitcoin. 70 to 90 percent for Bitcoin this year.

A significant drop in the price of Bitcoin, Boockvar said that any fall would be simply psychological, because Bitcoin is "something really relevant in a 19 trillion dollar economy"

However, it was added that people in South Korea, Japan and the USA. UU who have incurred credit card debts to invest in cryptocurrencies will receive a heavy blow.

CNBC refers to the rise of crypto markets can be attributed to the easy money policies of central banks and the printing of money. These movements make some cryptocurrencies, such as Bitcoin, more attractive to investors, because they are limited and are safe from degradation and inflation.

People have always questioned whether Bitcoin fits into the mold of a traditional "bubble".

BTC is quoted at around $ 11,820 at the time of publication, a decrease of 1.52 percent over a 24-hour period.