Cool like the eve of the 1929 stock market crash? Capital Management Giant Kingmaker: Bitcoin Could Fall Below $30,000 This Year!

Bitcoin is likely to fall below $30,000 in 2022 as the bubble bursts, U.S. asset management giant Invesco Group wrote in its "unexpected but likely" forecast for 2022.

Invesco strategist Paul Jackson said the massive marketing around bitcoin reminds him of stockbroker activity on the eve of the 1929 stock market crash. "We don't think it's too much to imagine bitcoin falling below $30,000 this year." Paul Jackson believes there is at least a 30% chance that this will happen.

In the report, Paul Jackson writes that bitcoin could be seen as a financial mania, which means huge losses are coming. "In the 12 months after the financial mania peaks, asset prices are likely to plunge 45%."