Nouriel Roubini Says Stubborn Bitcoin Investors Are “Absolutely Clueless” ‘Zealots and Fanatics'

Nouriel Roubini is one of the most active critics of the cryptocurrency community and Bitcoin (BTC). He has been attacking the most popular digital asset and the community as a whole.

The economics professor at the New York University, who successfully predicted the 2008 financial crisis, said that Bitcoin is a parabolic bubble and that Bitcoin investors are arrogant, ignorant, clueless zealots and fanatics.

Nouriel Roubini Attacks Bitcoin and Crypto Supporters

During an interview with the CFA Institute, he attacked virtual currencies and the cryptocurrency space as a whole. One of the things he said is that he cannot understand how Bitcoin enthusiasts can be clueless and gullible. For him, it is too obvious that the entire industry is a scam.

About it, Roubini commented:

“I engage on Twitter and also have attended many of these crypto or blockchain conferences. I met some of these individuals. I’ve never seen in my life people who on one side are so arrogant in their views – who are total zealots and fanatics about this new asset class – while at the same time completely and totally ignorant of basic economics, finance, money, banking, central banking and monetary policy.”

He went on saying that these enthusiasts want to reinvent money but most of them are totally clueless. It is worth mentioning that he has been always talking about virtual currencies because it is possible to attract a lot of attention from media

Roubini has also decided to block several individuals that do not agree with him about the crypto space and economics issues. Nevertheless, he sometimes engages in debates about virtual currencies and blockchain technology.

The economics professor has been forecasting a worldwide collapse for several years. He indeed tries to identify financial bubbles in the economy. This is similar to what Rober Shiller does. Shiller is an economics professor at Yale University and he specializes in spotting financial bubbles as well. Both of them believe that a recession could happen at any moment.

Although Roubini was able to forecast the financial crisis the happened in 2008, he has also failed when he said that in 2013 there was going to be a new financial crisis. Moreover, he was never able to predict Bitcoin growing to new levels as it did in 2017.

Now, Bitcoin seems to be starting to grow after several months in a bear trend. Since December 2017, Bitcoin is in a bear trend from which it cannot move. Nevertheless, the digital asset could soon surpass $4,000 and start growing once again.

Today’s BTC, ETH, XRP and BCH Price Analysis: Latest Cryptocurrency Coin Chart Predictions

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Carl T
Carl T
Carl is a legend in cryptocurrency space for his long-storied experience, history and insights. He is a digital nomad who fell in love with bitcoin and its offspring for many years now and prides himself on delivering quality perspectives in the emerging world of crypto-assets and blockchain technology.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


Please enter your comment!
Please enter your name here


Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

YFI Plunge Might be Over After Record Number of Addresses Unload All their Tokens

In the past three days, the DeFi darling YFI has lost more than 36% of its value, going from $34,400 to $21,950 today. At the...

Financial Firms & Law Enforcement Find Cryptocurrencies More Risky Than Opportunistic: RUSI Survey

Financial firms, government, and the private sector all see cryptocurrencies as risky, found a survey by the Royal United Services Institute think-tank and the...

Kadena to Launch DEX to Rival Uniswap; Touts Higher Speeds and Multiple Protocol Support

Kadena announced on Tuesday that it would roll out a Decentralized Exchange (DEX) dubbed ‘Kadenaswap’ towards the end of 2020 in a bid to...

Crypto Exchange Bitpanda Raises $52 Million in Series A Round to Offer Access to Stock Markets

Cryptocurrency exchange Bitpanda has raised $52 million in its first major funding round, Series A led by PayPal co-founder Peter Thiel’s Valar Ventures. Other...

Coinbase Launches Staking Program For Cosmos, ATOM Holders Can Earn 5%

In a blog post released on Wednesday, Coinbase introduced staking on ATOM, promising up to 5% return per annum on the value staked. The...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today