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Author Topic: Economist Who Predicted Financial Crash Calls Bitcoin the ‘Mother of All Bubbles  (Read 2417 times)

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Offline MarvonbitcoinTopic starter

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An economist who predicted the 2008 financial crisis has said that bitcoin was ‘the mother of all bubbles’ after dropping 12 percent in value on Friday.


Roubini is of the opinion, though, that this is the beginning of a crash, which would ultimately see its value fall ‘all the way down to zero.



Various critics have come out against bitcoin. Last month, Nobel-prize winning economist Robert Shiller, stated that while the number one digital currency was an ‘interesting experiment,’ it would not be a ‘permanent feature’ in our lives. Stephen Poloz, the governor of the Bank of Canada, said at the World Economic Forum that trading in the cryptocurrency was similar to ‘gambling.’ Whereas, Cecilia Skingsley, deputy governor at the Swedish Central Bank, claims that bitcoin isn’t even a currency.

India’s finance minister Arun Jaitley has become the latest to speak out, claiming during his budget speech that the government didn’t recognise bitcoin as legal tender, vowing to ‘eliminate‘ its use in ‘financing illegitimate activities or as part of the payment system.’

It’s thought that the latest price drop in bitcoin’s value is due in part to the news from India’s finance minister. It remains to be seen whether the currency can regain back previous highs and if it will experience a turnaround in price.



Offline xyzzy

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John McAfee predict Bircoin at $1 million by the end of 2020 :) He promised to eat his cock if wrong :) his word is true for me

Offline Holoiy

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I've read various predictions about the future of cryptocurrencies and bitcoin specifically, and actually most people are wrong. Right now the price is small and that's something no one could have predicted.


 

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