Paul Mampilly, a prominent investor in the United States, is one of the experienced investors who has kept away from investments in bitcoin. Mr. Mampilly does not see any reason good enough to make him buy the cryptocurrency. To him, bitcoin is a bubble that will burst. It cannot hold for a long time as many investors who took the investment are thinking. Paul Mampilly believes that the bitcoin bubble will happen because there is no reason why the prices have gone up the way they have done especially in the last quarter of 2017. Investors are set up for a trap, and those who are not wise enough will lose their investments as they wait for prices to continue going up.
Paul Mampilly has seen a similar occurrence like the one that is happening to bitcoin today. He has seen people lose money in bubbles before. In 1999, there were stocks which gained in the same manner bitcoin is doing. Technology stocks were going up for no apparent reason. The big companies in the sector supported the growth. What many did not know is that the prices would not hold up for a long time. Naïve investors added capital in the stocks so that they could make more profits. Paul Mampilly observed people who have never invested in stocks before making their investment without knowledge on the future of the sector.
Paul Mampilly saw there was something wrong with the stocks and decided to stay out of them. He warned his friends to take the profits they had made, but they refused. Finally, prices started going down. Investors kept hoping that the downtrend was a mere retracement and prices would soon shoot up. They waited, but there was nothing forthcoming. Prices kept falling until it got to a point where investors made huge losses. His friends who did not heed his advice were among the victims. See more of Paul Mampilly on Facebook for more updates.
About Paul Mampilly
Paul Mampilly is originally from India. He came to the United States at the age of 18 when pursuing further education in business related courses. His first stop was at the Montclair University where he pursued a degree in accounting and finance. He then went to the Fordham University for his Master in Business Administration. He has also taken other courses in various universities in the country to sharpen his understanding of the financial industry. Paul Mampilly is the founder of the Profits Unlimited newsletter and works as a senior editor at Banyan Hill Publishing.