Think cryptocurrency is a bubble ready to burst? Think again, says the ex-head of the Commodity Futures Trading Commission.
Too Deflated to Pop
According to ex-Commodity Futures Trading Commission (CFTC) Chair Jim Newsome, cryptocurrency is not a bubble on the verge of bursting. He believes this since the industry is still in its infancy and the vast majority of institutional money is still holding off on entering the market, primarily due to uncertainty regarding future regulatory measures.
Additionally, it is worth noting that the vast majority of mainstream investors have yet to get involved with cryptocurrency, and many who bought at or near all-time highs in December and January have been scared off.