‘Bitcoin Bubble’ Has Burst and All Crypto Will Die a ‘Painful Death’, Analyst Warns

Bitcoin (BTC) has shed over 80 pct of its total current value and the crypto market has lost a whopping $400 billion in the last 12 months as its global appeal wanes and financial firms set in place strict measures to plod into bitcoin and other key cryptos on hold.All this considered, the chief of global research for Bitwise Asset Management Matt Hougan has issued a rather disturbing warning: the bitcoin bubble has exploded.A grim warningIn Masters in Business interview with Barry Ritholtz of Bloombert, Hougan said that:According to Investopedia, a bitcoin bubble is “a surge in equity prices, often more than warranted by the fundamentals and usually in a particular sector, followed by a drastic drop in prices as a massive sell-off occurs.”In a recent article, The Slant noted that “purchasing Bitcoins just because prices are soaring is the very definition of a bubble behavior.”BTC has been on a…

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