Cryptocurrency Will Not Hold Water in The Near Future: Says Financialist, Paul Mampilly

Cryptocurrency is the new topic which has elicited divergent views and predictions regarding its investment viability. A number of people have invested in it while a bigger percentage has stayed clear. According to Paul Mampilly who is a senior editor of Profits Unlimited at Banyan Hill Publishing, investors who have banked on Bitcoin may be in for a rude surprise. Mampilly says cryptocurrency is a bubble which similar to the 1999 Internet is about to burst and people who have invested money will be counting losses. Although Mampilly is not sure of the precise time this will happen he is convinced that the collapse is inevitable and it will hit hard. View Paul’s profile on Linkedin.

Bitcoin & other cryptocurrencies

According to the former hedge fund manager, cryptocurrency is no different from the 1999 Internet bubble which also came to a crash. He recalls that in 1999 he made money by selling his internet stocks before the price drastically slipped to an all-time low. Mampilly is positive that a similar fate is in the offing. Just like the internet bubble where some people made huge losses and others became overnight internet millionaires the same happened to cryptocurrency. Similarly, everybody who bought a major cryptocurrency at the beginning of the year became rich after a few months. Mampilly is convinced that bitcoin, ethereum, litecoin and other related cryptocurrencies are nearing a fatal death. He spots the shaky management and complicated language behind cryptocurrencies that have left many in the dark as an additional catalyst to the near crash of the currencies.

Economic bubble

Paul Mampilly believes that the cryptocurrencies represent an economic bubble. He states that shares of the cryptos have been traded at a much higher value than they actually represent. He states that an investor can lead from the signs of an investment and pull out to avoid massive losses. Such signs like, attracting popular attention and triggering emotional investing are imbibed in the cryptocurrency frenzy.

Paul advises investors not to get carried away in the popular embracement of the cryptos’ and know when to sell. He warns that folks usually miss great chances to sell out and hold on to their shares in anticipation of better prices. Then the prices suddenly go down and stagnate and people burn their money. Mampilly warns investors not to be the latest victims of the cryptocurrency bubble burst when it eventually happens.

More about Paul Mampilly

Paul Mampilly is the founder of Profits Unlimited, a newsletter which advises its subscribers on stock options that are tipped to grow higher. He also manages Extreme Fortunes and True Momentum which are trading services on Banyan Hill Publishing firm. He has also worked at various capacities with Stansberry Research, Royal Bank of Scotland, Deutsche Bank and Kinetics Asset Management LLC Follow:


Sean Penn’s Latest Book

It’s always great when a celebrity takes the time to sit down to talk about what he’s been up to. Movie director and actor-turned-author Sean Penn popped a squat at his kitchen table to discuss his new book, Bob Honey Who Just Do Stuff. Penn knows famous authors, himself. However, he says that neither of the authors he has met influenced him to write a book. He decided to write a book merely as a creative outlet.


Although it would seem that the film industry is all the creative outlet that anyone would need, Penn is no longer happy with the film industry and hasn’t been satisfied with it for a while. In the film industry, people are expected to collaborate much of the time.


Penn says that collaboration would often turn his works of art into disasters. After collaboration, the movies would be a far cry from what he had envisioned them to be, and he would often be left feeling disappointed. Authoring a book allows Penn a completely different experience, however, because he doesn’t have to answer to anyone and doesn’t have to change his ideas when writing. Sean Penn admits to something quite interesting. He authored Bob Honey Who Just Do Stuff, but he didn’t write it.


He actually dictated it. Writing long-hand has never been Penn’s forte, and the former movie director has never learned how to use a computer. Penn is competent when it comes to using a typewriter, but typewriters and the ribbons needed for them have become obsolete, so Penn’s only choice was to speak words and let someone else write them down.


Bob Honey Who Just Do Stuff is a story about a middle-aged divorcee who sells septic tanks and fantasizes about sleeping with a much younger woman. This sounds to be pretty common stuff, but Bob Honey differs from most regular joes in that he doubles as a deadly assassin. With the help of a wooden mallet, Honey often kills the elderly. When he isn’t killing the elderly, however, he is hard at work selling septic tanks to Jehovah’s Witnesses.