Investment Exec Warns of “Gold Rush” in Crypto

FinTech, ICO News, Investing, News | June 26, 2017 By:

An Aberdeen Asset Management executive has warned that cryptocurrency appears to be in a bubble, and the burst is inevitable.

Peter Denious, head of global venture capital at Aberdeen Asset Management Plc, spoke his words of caution to Bloomberg’s news service.

“Prices right now aren’t being driven by network use, they’re being driven by speculation that tokens are going to appreciate,” Denious. “It’s a gold-rush mentality.”

Denious cited the numerous initial coin offerings ICOs and their large price run-ups as one of the main indicators of the bubble forming.