So What Does Nouriel Roubini Really Think About Crypto-Currencies?

99.9% of crypto-currencies have lost 99% of their value since peak. And the top 10 have lost 80% from peak. And they are still falling like stones. Case closed on all of these shitcoins. They are all now at the bottom of their stinking crappy cesspool! https://t.co/TsT4qJzNbr

— Nouriel Roubini (@Nouriel) December 8, 2019

As I pointed out in my video, Who is Buying Bitcoin and When Will They Stop?, bitcoin (and the greater crypto-currency world) is completely driven on momentum.

Roubini is on to something when he warns that it could crash another 99%, but these kinds of near pump-and-dump type operations don't crash in just one day. They can have strong counter moves against the general downtrend. But don't get sucked in, peek momentum most likely occurred at the end of 2017.

It is very dangerous to be long now and I say this as a person who has successfully traded bitcoin from the long side in the EPJ Daily Alert on two separate occasions.

The easy money in trading Bitcoin was made long ago. It's over. I just don't see where a powerful new group of buyers are available to come in and power Bitcoin to new high prices.

-RW