Following Bitcoin\'s drop in value over the past week, commentators have been split on the future of Bitcoin: some remain confident, while others predict a huge crash is on the way. Peter Boockvar, a prominent Wall Street businessman at Bleakley Advisory Group, has predicted a huge Bitcoin market crash in the future. Speaking on the CNBC segment \"Futures Now\", Boockvar stated that when something becomes parabolic, in the way that cryptocurrency has become, it often winds up where that parabola began.

He went on to share his predictions for the future for Bitcoin, arguing that he believes it will crash to $3,000-$1,000 and that the cryptocurrency could lose around 90% of its previous value. On Friday, data charting the market value of Bitcoin showed that it was valued at $11,000.

Boockvar puts the Bitcoin craze down to the measures that banks took to help cushion the impact of the financial crisis when they allowed for quantitative easing. Boockvar asked if we would have even seen the rise of cryptocurrencies if banks hadn\'t taken measures to decrease interest rates around the world.

He predicts that crypto will crash, and that as a a result the stock market will be damaged, in terms of there being a transformation in the attitudes of investors regarding risk.