Nouriel Roubini Glows Over 50% Bitcoin Crash As Investors Fear New Crypto Winter
Prominent Bitcoin critic Dr. Doom, beaming at the 50% Bitcoin crash, stated that many altcoins have fallen by almost 90%
Nouriel Roubini, a well-known Bitcoin hater, has a CNBC article on investors’ fears about the possibility of another crypto winter.
He made a snide remark about that, adding that many “s-coins” have also fallen by nearly 90%. Recently, Roubini, aka Dr. Doom, calls for the impeachment of El Salvador’s President Nayib Bukele for forcing the country’s citizens to start using and mining BTC.
Investors fear the ‘crypto winter’ is coming as bitcoin plunges 50% from record highs.
And Plenty Of Other Shitcoins Drop Up To 86%https://t.co/zBhfRVuON7
— Nouriel Roubini (@Nouriel) January 25, 2022
Bitcoin to lowest point since July
As the leading cryptocurrency has undergone a flash crash to the $33,000 level following a series of price declines from its historic November peak near the $69,000 level, many smaller cryptocurrencies also collapsed. Bitcoin’s price drop below $33,000 brought BTC back to its lowest price level since July 2021.
However, Bitcoin has now managed to climb back to the $36,413 level. But that’s still about 50% below the November all-time high.
This has caused the cryptocurrency market to shrunk by more than a whopping $1 trillion since Bitcoin approached $69,000 in November. After BTC, Ethereum also went deep, reaching $2,172 per coin on Monday.
Fear of New Crypto Winter Rises; “time to solve real problems”: David Markus
This has led many investors to believe that another crypto winter is on the way. The previous one came out of the blue in January 2018, when BTC collapsed 80% and fell hard from its historic peak of $20,000.
Among these investors is David Marcus, a former head of crypto at Meta (Facebook’s parent company). He thinks the crypto winter is already here and it’s the perfect time to build companies that solve real problems and not just pump tokens.