Money Talk

You opinion on bitcoin crashing?

Submitted by TwistedLobby, , Thread ID: 81173

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RE: You opinion on bitcoin crashing?

#5
The economist credited with predicting the 2008 global financial crisis said a 12% fall in the value of bitcoin on Friday was the latest proof that the cryptocurrency was the biggest bubble in history and destined for a crash.

Nouriel Roubini, professor of economics at New York University, said bitcoin was ?the mother of all bubbles favoured by ?charlatans and swindlers as it fell below $8,000 (5,600) early on Friday, marking a 30% drop since the beginning of the week as investors became increasingly twitchy about a clampdown on cryptocurrencies by regulators. Later it rallied, climbing back over $8,600 by 3pm (GMT).

Bitcoin has lost more than half its value since hitting a peak of near $20,000 in the week before Christmas. Dubbed ?Dr Doom, Roubini said the sharp fall was the beginning of a crash that would see the value of the digital currency plummet ?all the way down to zero.

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