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Image source: Executives magazine
In a race where many economists consider bitcoin to be a bubble, UBS executive Paul Donovan joins the rally again by exploding Bitcoin. In a recent interview with CNBC, Donovan talked about bitcoin and the recent wave through the crypto-market that he calls "unhealthy". Looking at his latest blog post, titled "I'm going to bury Bitcoin, not to praise him", he started to claim the cryptocurrency as a bubble, "could be in turmoil," Anthony Pompliano said on twitter;
I think Paul Donovan is paid by a bank to pump anti-Bitcoin rhetoric. Good luck to them!
– Pomp 🌪 (@APPLANT) November 30, 2018
While Bitcoin is Bubble, Blockchain is different – Donovan
UBS Chief Economist recently wrote a blog post in Bitcoin and also participated in the CNBC's quick talk to talk about it. He said that Bitcoin "a diabolical bubble" and will never be a currency. The article stated that the crypto designers are good at Bitcoin but seem poor in economics. He stressed that the real value of a currency comes from "aligning supply and demand".
The technology behind the blockchain, the distributed accounting system, is different. He continued to bet: "There's an economic proposal there, again, there's a certain amount of hype around it, but going from this to" Bitcoin is going to replace the dollar ". It's a big jump. "
Donovan as Cynical Bitcoin wrote it;
"I think anyone with an education in economics has been a skeptic of Bitcoins since the beginning," adding, "These things would never have been currencies, they will not be worth at any point in the future, they are fatally imperfect."
Enthusiastic crypts react to Donovan's request
Following his request, the Twitter enthusiast continued to deny and reacted assertively on the request
crazy ahhaahahhahahahah
– Faysal Ramses (@RamsesFaysal) November 30, 2018
It is time to bury $ UBS. The company behind the bold call is down 41% in a gold bull market.
How embarrassing. I can not even understand how they behaved so badly.
SAD pic.twitter.com/gTpMbMV2iM
– The Crypto Dog📈 (@TheCryptoDog) November 30, 2018
I am so enthusiastic about the arrogance with which these people speak.
Show me how perfect your economic system is and how a bank like UBS works. https://t.co/lJ0kdtM6di
– Trajan (@trajanmex) November 30, 2018
Also, by closely observing the coin count, Bitcoin was trading at $ 4005 with market capitalization $ 69,697,967,302. XRP holds second place and Stellar passed Bitcoin Cash for the first time.
What is your interest in the imminent value of Bitcoin and Donovan's claim? Let's discuss
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Anthony Pompliano -Paul Donovan can be paid by the bank, blowing up again on Bitcoin
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In a race where many economists consider bitcoin to be a bubble, UBS executive Paul Donovan joins the rally again by exploding Bitcoin. In a recent interview with CNBC, Donovan talked about bitcoin and the recent wave through the crypto-market that he calls "unhealthy". Looking at his latest blog post, titled "I'm going to bury Bitcoin, not to praise him", he started to claim the cryptocurrency as a bubble, "could be in turmoil," Anthony Pompliano said on twitter;
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