October 1, 2022

Nuriel Roubini expressed delight at the fall of Bitcoin

Well-known economist and cryptocurrency skeptic Nouriel Roubini expressed glee over the recent depreciation of bitcoin and other cryptocurrencies.

Roubini said the loss of the cryptocurrency marketin just a week, $ 30 billion of capitalization can be called a “crypto massacre.” However, today's rebound above $ 7,500 has probably diminished Rubini and other crypto skeptics for rejoicing.

"Crypto massacre: BTC crashed 65% from peak values; other cryptocurrencies from the top ten by capitalization lost 80%. Thousands of other shieldcoins fell by 95%, or even 99%. A complete cryptococalypse! ”, Rubini wrote on the social network Twitter.

Note that the economist who predicted financialthe crisis of 2008, repeatedly spoke out against bitcoin and other cryptocurrencies. He called them fraudulent tools that can only create new bubbles, and cryptocurrency exchanges, according to Rubini, are breeding grounds for crime. Recently, however, on the rise in the rate of the first cryptocurrency, the skeptic even expressed a bit of 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 polemic between the skeptic Roubini and the head of the BitMEX cryptocurrency exchange Arthur Hayes about the future of cryptocurrencies was reported.