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Nouriel Roubini aka Dr. Doom continues to hit the cryptocurrency space. The economist, known for predicting the 2008 financial crisis, drew the attention of the entire cryptocurrency space by making a statement against Bitcoin [BTC] and Vitalik Buterin, the co-founder of Ethereum. This fight went to an extent where the whole community wanted Buterin and Roubini to have a debate on the cryptocurrency space.
Now, Roubini is back in the limelight because of his statement on Bitcoin [BTC] and the status of other cryptocurrencies in the market. The largest and the first decentralized digital currency has seen a huge decline from the historical high of January 2018. The currency has lost almost 80% of its value, currently trading at $ 3992 on Binance, one of the main trading platforms of cryptocurrencies.
Roubini said on Twitter:
"If everything seems funereal, it's because Bitcoin and all the other crypto-currencies are on the way to a funeral march!"
This observation comes on the heels of the commentary by the chief economist at UBS Global Wealth Management, Paul Donovan and an opinion article written by a professor of finance, Atulya Sarin said that "Bitcoin is in a spiral of death"
Recently, Paul Donovan had stated that Bitcoin and other cryptocurrencies are never in progress for currencies and that they are "fatally flawed". He said that the key problem with digital currencies is that they will not be a store of value, as they relate solely to supply and demand. Donovan added that in the case of cryptocurrencies, the offer can not be controlled as a consequence of a drop in demand.
Furthermore, Atulya stated that Bitcoin [BTC] it is "close to becoming worthless". The finance professor also says that Bitcoin will go to zero due to the spiral of mining death and thanks to its "rush of greed by investors".
Fabiano Anemone, a Twitterati said:
"In the end it all ends up, but overall Bitcoin has more chances to survive than the Euro." The Eurozone is the real crazy idea, it has proven to be broken, it has proved unable to counter the big crises, has proven to damage real economies, proven to enslave democracies … "
The Endless Chain, another Twitterati said:
"He drank the blood of many" average "American investors, without rules and a wide belly of poets like rapper DJ Khaled and former professional boxer Floyd Mayweather who infest social media, it's time to start making sanctions for this sort of evil … "
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