Bitcoin news: Will the cryptocurrency plummet? LIVE analysis | City & Business | Finance

fell more than 10 per cent on Wednesday, hinting the “biggest bubble of our lifetime” could be set to burst. 

Bitcoin peaked at £14,251.01 on Monday, according to the CoinDesk exchange before decreasing to £13,221.59.

The sharp drop in value by almost £1,500 has sparked fear amid investors as the uncontrolled digital currency could continue to decline. 

JPMorgan chief executive Jamie Dimon said in October Bitcoin investors are “stupid” and will pay the price for it one day.  

Oliver Isaacs, a Cryptocurrency investor, believes the cash coin bubble will eventually burst with massive consequences for investors.

He said: “Personally I think Bitcoin will be the biggest bubble of our lifetime.

“Bitcoin has already reached over $10,000 a coin and it will not be long until bitcoin valuations and prices continue to rise and spiral out of control.

“Currently if you invest in Bitcoin you can make a significant amount of money, but similar to investing in the Stock Market it is important to be cautious and prevent putting all your eggs in one basket.

“Due to the lack of Bitcoin regulation investing in Bitcoin is a risky business and no one knows if or when Bitcoin will crash.”

Bitcoin is a cryptocurrency not controlled by a single administrator and can be used to buy things worldwide electronically. 

But the digital currency has faced criticism. Eric Schiffer warned potential investors against jumping the bitcoin bandwagon and said he is certain that its days are numbered.

He told “I don’t want people to walk through what is going to be the bloodiest financial danger of the 21st century.”

Independent research analyst Ronnie Moas has predicted the Bitcoin price could hit up to $400,000. 

He told CNBC: “The end-game on bitcoin is that it will hit $300,000 to $400,000 in my opinion, and it will be the most valuable currency in the world.” 

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