Nick Colas advised not to buy bitcoins

Another expert criticized the cryptocurrency.

10.May.18 1:11 AM
By Jeff Bannister
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A known analyst with Wall Street Nick Colas advised investors to avoid bitcoin. Such a statement was made by the founder of DataTrekResearch in an interview with CNBC. According to him, analysts have been watching bitcoin for a long time and are getting requests from people on the topic, the right time to buy this asset.

Nick Colas noted that bitcoin became a financial bubble in December last year. The release of futures for digital coins provoked a wave of interest in this asset, as a result of which its cost of bitcoin reached 20 thousand dollars. However, since that time much has changed, and people's interest in crypto-currencies has decreased. According to the expert, the analysis of the statistics of search servers and the number of downloads of critical wallet shows that only a few users are interested in digital coins for the first time.

In Google statistics, the number of requests for bitcoin has decreased by 90%. In April, the increase in the number of downloads of bitcoin-purses was only 2.2%, and last year this figure was 5-7% monthly. According to the analyst, this trend can last from 3 to 5 years, after which interest in bitcoin will again increase.

Negative comments reduce the rate of the cryptocurrency.

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