Bitcoin Bubble Is Popping, According to Bank of America

As one of the largest financial institutions in the United States, Bank of America (BoA) has come down hard on cryptocurrencies. In a paper released Sunday, a team of researchers at the bank argued that bitcoin is one of the “greatest asset price bubbles in history” and that it has already popped.

The group, which was lead by BoA chief investment strategist Michael Hartnett, suggested that the current market is evidence of the bursting bubble. Since cryptocurrency’s spike in December...

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