Wall Street veteran warns: 90% of bitcoin's value could get wiped out

Wall Street veteran Peter Boockvar predicts an epic crash will hit the cryptocurrency market.

He isn't sure if it'll come to a grinding halt or be a slow and steady drop — but he says it's coming.

Boockvar, chief investment officer at Bleakley Advisory Group, is certain crypto is in a giant bubble, and the air is already coming out.

"When something goes parabolic like this has, it typically ends up to where that parabola began," he said on CNBC's "Futures Now."

Boockvar, a CNBC contributor, contends bitcoin is in danger of dropping 90 percent from current levels. He calls it a classic bubble.

"I wouldn't be surprised if over the next year it's down to $1,000 to $3,000," he added.

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