Nouriel Roubini: Bitcoin price is already on its way to zero

“I told you so,” like that feel right now the opponents of cryptocurrencies. Expected, economist Nouriel Roubini have used another fall of the stock market to make a few more negative remarks in the direction of Bitcoin. In his opinion, the recent decline is only the beginning of a long journey of digital assets to the full depreciation.

The cryptocurrency bubble burst

The expert who predicted the financial crisis of 2008, had no pity.

I could gloat because of the fall of Bitcoin by 10 percent in one day. However, to zero, where Bitcoin and place, there are still a lot of ways. Given the fact that cryptocurrency is the “mother of all contamination and environmental disasters”, its true value is negative.

Recall, this is not the first time Roubini made an attempt to criticize Bitcoin. Speaking before the US Senate, the economist called the crypt “mother of all bubbles and fraud.”

However, whether the rights of Roubini do? Yes, this Wednesday, Bitcoin collapsed below the major support level in the area of $ 6000. However, studies show that cryptocurrency is still the most profitable asset in the long term. Its holders it brings the average 0,347% profit every day since 2011.

The second counter argument, the Bitcoin running 99.98 percent of time of its existence. In other words, none of the hacker group managed to hack or in any other way significantly harm the blockchain cryptocurrencies.

The third counterargument — crypt does not use so many resources, according to Roubini. According to Bitcoinist, in terms of electricity the functioning of a modern banking system in the world costs three times more expensive than the network of Bitcoin. Besides, over time the world will move to renewable energy sources, which will greatly reduce any negative impact of kryptonyte on the environment.


Leave a Reply

Your email address will not be published. Required fields are marked *