Bitcoin Price Prediction as $60B Crypto Wiped

“In addition, the world’s largest cryptocurrency ‘ticks all of the boxes’ of the essential criteria for any asset bubble, including overtrading, “new-era” thinking and rising leverage, he wrote. Bitcoin mania is a textbook-like bubble, ‘one that is probably just about to burst,’” Bloomberg reports, citing Stefan Hofrichter, Allianz head of global economics and strategy.

Still, some firms are pushing assets related to digital currencies. Two U.S. exchange operators currently offer bitcoin futures and, earlier this month, Grayscale Investments, the operator of the Bitcoin Investment Trust (OTCQX: GBTC) introduced the Bitcoin Cash Investment Trust, Ethereum Investment Trust, Litecoin Investment Trust, and XRP Investment Trust.

Coinbase, the operator of the largest U.S. cryptocurrency exchange, launched an index based on bitcoin and other digital currencies traded on Coinbase. The Coinbase Index Fund debuted last week.

The fund is available only to accredited investors defined as those with an annual income of $200,000 or a net worth of $1 million or more. The minimum investment is $10,000 and the fund has an annual management fee of 2%, according to Coinbase.

For more information on the cryptocurrency, visit our Bitcoin category.