Bitcoin ‘mother of all bubbles’ will BURST says Dr Doom economist who predicted 2008 crash
The academic, known as “Dr. Doom”, said Bitcoin is the “biggest bubble in human history” and his warning comes on the very day BTC fell below $8,000 Friday, a 60 percent tumble from its peak of $19,511 on December 18.
Professor Roubini, professor of economics at New York University, said bitcoin was “the mother of all bubbles” favoured by “charlatans and swindlers” as it fell to $7,882 today following negative noises from India, and concerns over price manipulation on the Bitfinex exchange.
Bitcoin is very quickly losing all of its pre-Christmas hype-period gains from the end of last year.
Professor Roubini told Bloomberg that policymakers and regulators are getting worried.
He said: "Pretty much every G20 policymaker is talking about a crackdown.
“We can’t allow it to become the next Swiss bank account for use by criminals and people evading tax.”