Peter Boockvar speaks to CNBC in an interview earlier

Boockvar was the former chief analyst of The Lindsey Group and is now chief investment officer of Bleakley Financial Group. He predicts an epic crash will hit the cryptocurrency market in the future.

"When something goes parabolic like this has, it typically ends up to where that parabola began", he says - while calling Bitcoin a "classic bubble".

Boockvar also argues that the collapse will be in tandem with rising interest rates around the globe and he blames central banks for the cryptocurrency craze. And if and when it does collapse, Boockvar says that investor attitudes toward risk assets would change with the stock market seeing collateral damage as a result of a change in investors' psychology.

Anyway, Bitcoin is currently still trading around the $11,000 region (now at $11,564 on Coinbase's GDAX exchange). Looking at the daily chart, the bounce from the recent sharp decline sits near the 100-day MA and for now that seems to be the support level, while the topside failed to break above the 38.2 retracement level near $13,000.