Nouriel Roubini: the number of fraudulent ICO declined due to the fall of Bitcoin

This time the criticism of “Dr. doom,” he touched the dying market ICO. According to Roubini, between the decrease in the number of Scam among ICO and fall of Bitcoin prices there is a direct correlation.

How to deal with Scam

Nouriel fully confident in the connection between a criminal “crowd funding” and the prices of the main cryptocurrency.

According to reliable sources, 81 percent of all ICO was scammy. That their condition correlates with the prices of Bitcoin and Ethereum after the disappearance of the bubble in 2018, is not surprising. This phenomenon only confirms the fraudulent nature of the market.

Roubini also tried to explain the research results of the mentioned source. Here’s the excerpt from what the economist refers.

There are two interpretations of this pattern. First — ICO market is still in an early stage of development and he must pass through “adolescence”. When the industry reaches a new stage of development, ICO in this scenario will be able to get rid of this dependence on BTC. The second interpretation — the phenomenon of the ICO was just a result of hype that occurred in the industry after the explosive growth of Bitcoin.

Source: Reddit

Earlier, the “Dr. Doom” did not hesitate to go even to the person during a dispute with well-known personalities of cryptosphere. Almost six months ago Nouriel even compared Vitalik Buterin with North Korean leader Kim Jong-UN, also criticized the style of Toni Weiss.

Read more about the reasons for his hatred of Bitcoin Roubini said in an exclusive interview with Cointelegraph. Don’t forget to subscribe to our cryptcat!


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