Stern School NYU Prof; Roubini Macro Associates CEO; @RosaRoubini CoFounder; Crisis Economics author; Time100, FT, FP, Forbes, Coindesk Most Influential Awards
Bitcoin crashes by 15% in 7 minutes on NO news: a rigged, totally manipulated, whales-controlled market where most transactions (90%) volumes are false as exchanges pretend to have liquidity they don't have. Massive pump & dump, spoofing, front running, wash trading! Total Scam!
The demonstrations and even the violence are not just about George Floyd's murder and BLM. There are now 40 million unemployed people in the US who are righly furious mad as hell. As I predicted months ago this crisis will lead to protests, riots & violence. USA is now burning!
Bitcoin has no role in institutional or retail investors portfolios. It is not a currency: not an unit of account, not a scalable means of payment & is a highly volatile store of value. It is heavily manipulated: look at the investigation of Bitfinex by US law enforcement. 1/n
Angry, divisive, populist, nationalist, unilateralist, depressive, insulting, mean, tone-deaf, intolerant, arrogant America First speech.
Trump now speaks of a $2 trillion fiscal stimulus. But a lot of it is smoke & mirrors that doesn't help the average American. Too much of it is going to the large/middle sized firms, many that are cash rich & used previous bailout for share buybacks. Not enough going to workers!
In which way has the new alleged JPMorgan crypto coin anything to do with blockchain/crypto? It is private not public, permissioned not permissionless, based on trusted authorities verifying transaction not trustless, centralized not decentralized. Calling it crypto is a joke
Trump's policy team: a bunch of white men billionaires & supply side nuts who will find policies to help blue collar workers? Laughable joke
Now Bitcoin crashing below 8000, headed towards 7000. Down 60% from the peak, 40% in a month and over 10% today. The Mother Of All Bubbles And Biggest Bubble in Human History Comes Down Crashing.