Famous economist Nouriel Roubini, known for predicting the 2008 crisis, is known for his negative approach to cryptocurrencies.
Standing out with his hostility to Bitcoin, Roubini shared his article on the crypto market published on CNBC on Twitter with his followers.
Stating that the leading cryptocurrency Bitcoin fell below $ 33,000 on the first day of the week with the sharp decline experienced, but later recovered to $ 36,000, the famous economist noted that BTC’s ATH of $ 69,000 in November is still below 50%.
Roubini said that this sharp drop in Bitcoin also affected many altcoins such as Ethereum (ETH) and Solana (SOL). “Ethereum has lost more than half since its peak in November, while Solana has fallen even more sharply, down 65%.” said.
Investors fear ‘crypto winter’ is coming as bitcoin falls 50% from record highs….
And plenty of other Shitcoins falls up to 86%https://t.co/zBhfRVuON7— Nouriel Roubini (@Nouriel) January 25, 2022
Is Crypto Winter Coming?
The famous economist Bitcoin and cryptocurrencies that these sharp declines experienced by investorsof the crypto winterHe stated that it caused him to have thoughts that he was coming.
Roubini cited the sharp decline in early 2018 as the first reason for this. Because at the end of 2017 and early 2018, Bitcoin experienced a decrease of about 80% from its all-time high of $20,000.
As the second reason, he cited a post by David Marcus, the former head of Facebook in charge of crypto projects, in which he said that “a crypto winter has already arrived”.
It’s during crypto winters that the best entrepreneurs build the better companies. This is the time again to focus on solving real problems vs. pumping tokens.
— David Marcus – dmarcus.eth (@davidmarcus) January 24, 2022
Roubini’s Hostility to Bitcoin!
Describing Bitcoin as the “mother of all scams”, Roubini recently targeted Nayib Bukele, the president of the country of El Salvador, which accepts Bitcoin as a legal currency.
Roubini said that he wanted President Bukele, who used the tax of citizens in the country for BTC purchases, to be punished.