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Bitcoin to drop as low as $1000 this year from its peak of $20,000: Wall Street CIO

A drastic drop of almost fifty percent in Bitcoin value last week has worried the investors while fears of global crackdown on cryptocurrency is an added woe to those investing in the digital currency. Peter Boockvar, the Chief Investment Officer at Bleakley Advisory Group, sees the potential for Bitcoin (BTC) to be around for a long time, but with a significant price drop coming when the Bitcoin bubble bursts, CNBC reports. Last week, Bitcoin fell almost 50%, piercing below $10,000, while other cryptocurrencies took…