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Nouriel Roubini continues with its attacks on the virtual currency market and Bitcoin (BTC). On Twitter, he said this Bitcoin he is approaching a funeral march. Roubini is known in the financial world for predicting the 2008 financial crisis and gained attention from the cryptocurrency space when he started attacking Bitcoin and other virtual currencies.
Now he seems to believe it Bitcoin is about to disappear in the near future. However, the price of the popular virtual currency has helped bears to start attacking the market for several reasons.
During this year, Bitcoin has lost about 80% of its value. In December 2017, Bitcoin was traded close to $ 20,000 and now each currency can be purchased for less than $ 4000. Its market capitalization is currently $ 68.1 billion.
Roubini scored some of the recent Bitcoin media titles in his Twitter account. One of them says
& # 39; e & # 39; time to bury Bitcoin says UBS & # 39;
which is the largest asset manager in the world. Another popular title on the mainstream media was "Bitcoin is in a deadly spiral", which was uploaded to MarketWatch.
He then said that if this sounds like a funeral, it means that Bitcoin and other virtual currencies are coming [to] a funeral march! "
Recent Bitcoin titles:
"It's time to bury Bitcoin says UBS" (the world's largest wealth manager) through CNBC
"Bitcoin is in a deadly spiral": opinion on MarketWatch
If everything seems funereal, it's because Bitcoin and all the other crypto-currencies are on the way to a funeral march!
– Nouriel Roubini (@Nouriel) December 4, 2018
Paul Donovan, chief economist at UBS's Global Wealth Management, and financial professor, Atulya Sarin, stated that Bitcoin is in a deadly spiral. Furthermore, Donovan said that virtual currencies are "fatally imperfect". Furthermore, he said that virtual currencies will not be a deposit of value in the future.
Virtual currencies have expanded into the virtual currency market over the last two years. Although this year has not been good in terms of price action for most virtual currencies, cryptographic space is evolving and is getting bigger every year.
There are many other specialists in the market who believe that Bitcoin will grow in the future and reach new heights in the coming years.
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