June 18, 2024

Nuriel Roubini expressed delight at the fall of Bitcoin

Renowned economist and cryptocurrency skeptic Nouriel Roubini expressed jubilation overthe recent depreciation of bitcoin and other cryptocurrencies.

Roubini said that the loss of the marketCryptocurrency in just a week, $30 billion in capitalization can be called a “crypto massacre.” However, today's rebound above $7,500 has likely reduced the reasons for celebration for Roubini and other crypto skeptics.

"Crypto Massacre:BTC crashed 65% from its peak; other cryptocurrencies from the top ten by capitalization lost 80%. Thousands of other shitcoins have fallen by 95%, or even 99%. Complete cryptopocalypse!” wrote Roubini on the social network Twitter.

Note that the economist who predicted the financialcrisis of 2008, has repeatedly spoken out against Bitcoin and other cryptocurrencies. He called them fraudulent instruments that are only capable of creating new bubbles, and cryptocurrency exchanges, according to Roubini, are breeding grounds for crime. However, recently, as the price of the first cryptocurrency rose, a skeptic even expressed some sympathy for Bitcoin.

“Maybe Bitcoin can be partially calleda means of preserving wealth, but it is not a means of settlement and payments, it does not scale. After the rally last year, he lost 60% of the cost, so, to be honest, I don’t see his prospects, ”said Nuriel Rubini at the CC Forum in October.

In July, a controversy was reported between the skeptic Roubini and the head of the BitMEX cryptocurrency exchange, Arthur Hayes, about the future of cryptocurrencies.