Calling Bitcoin the 'biggest bubble in human history', eminent economist Nouriel Roubini predicted that the virtual currency - currently on a tailspin that erased nearly $500 billion of market value over the past month - will crash to zero value.
Roubini, also known as 'Dr Doom' for accurately predicting the 2008 financial crisis warned that some people would use a market manipulation tactic known as wash trading to prop up the price.
Wash trading in the crypto world involves someone buying and selling their own order to manipulate markets.
A professor of economics at Stern School, part of the New York University, Roubini has been sceptical about Bitcoin since its inception, calling it a "gigantic speculative bubble."
Why let it go to zero? Sell at $15,000 and buy back double that amount at $2,000. Rinse and repeat...At some point the market will reach an equilibrium between utility and perceived market value. At $1,000 that would give bitcoin a market cap of just $21 billion. That would be equivalent to market cap of just one medium sized company. I think I would be a buyer at $1,000 dollars given the amount of infrastructure already put into the bitcoin ecosystem. IMHO...