en
Back to the list

Nouriel ‘Dr. Doom’ Roubini: Bitcoin is now falling to $0


Nouriel Roubini seems not to have changed his position about Bitcoin over time. In November 2017, he called Bitcoin, then approximately $7000, a bubble, and he repeats this today, calling it the biggest bubble in human history.

He also expressed disgust towards “HODL nuts” on his Twitter, telling how the long-term holders of Bitcoin would lose all their assets when Bitcoin reaches zero.

These holders might indeed suffer if his prediction comes true, but there are also different types of investors too. Some were indeed irresponsible, going as far as to borrow money from banks and invest them in Bitcoin at values over 10,000 hoping for big profits in the future, while some just used spare money as an experiment.

Bitcoin’s downfall has become a hot topic when yesterday during the European evening it plunged from $8000 to $6740 and then it went even further to $6580. It has somewhat stabilized between $6000 and $6500 at the press time. As Sheba Jafari’s (Goldman Sachs analyst) analysis issued almost a month ago stated, investors must be cautious if Bitcoin reaches $7800. It would be interesting to find out what she thinks on the current dynamics.



Back to the list