Dr. Doom Roubini says Bitcoin should go much lower, wondering if Tether will push BTC up like it did before
Nouriel Roubini expects Bitcoin to fall much lower, but believes that “Tether Pump & Dump Schemes” could support this, while Peter Schiff criticizes BTC as a threat to real estate
Bitcoin vocal opponent Nouriel Roubini, also known as Dr. Doom, predicting the mortgage crisis in 2008-2009, has visited Twitter to share his opinion on the current Bitcoin decline below $ 30,000 and his expectations regarding the further movement of BTC.
Meanwhile, another prominent Bitcoin hater, Peter Schiff, has doused arguments that Bitcoin posed a threat to real estate as a form of ownership.
“Basically, Bitcoin should go much deeper”
One of the loudest Bitcoin haters, Roubini, has always criticized Bitcoin when it goes up and is happy when it goes down.
Now he’s posted a tweet saying that currently, with Bitcoin falling below the $ 30,000 mark, all new investors who got into BTC after March this year have suffered losses.
He believes that the leading cryptocurrency should definitely fall a lot harder given the fundamentals as it is today.
Dr. However, Doom wonders if the “Tether Pump & Dump” scheme will help Bitcoin recover as it claims it has done in the past.
Bitcoin price is now below 30,000. A critical level – that is, the majority of retail vacuum cleaners who entered the market after March 2021 are in the red. Basically, it should go much deeper. Only problem: will tether-pump and pump-and-dump schemes support it now as in previous episodes?
– Nouriel Roubini (@Nouriel) July 20, 2021
Tether printing can shore up BTC, claims Dr. Doom
In particular, in the first week of January this year, when Bitcoin fell 15 percent below the $ 29,000 mark, it then made a quick comeback above the $ 31,000 mark.
Roubini said at the time that this recovery was possible thanks to the resumption of tether pressure.
At the time, he also wished that the US and global regulatory authorities would soon crack down on Bitcoin and thus initiate a bloodbath for the flagship cryptocurrency.
Peter Schiff criticizes Bitcoin as a property threat
Another bitcoin hater, CEO of Euro Pacific Capital and gold bug Peter Schiff, laughed at Michael Saylor’s words that bitcoin was a threat to property in the United States
Speaking to Natalie Brunell on an episode of the Coin Stories podcast recently, Saylor mentioned that Bitcoin will not threaten the US government, but rather will be property – digital property.
Hence, the CEO of MicroStrategy stated that BTC poses a threat to property – especially gold and real estate.
This comparison amused Peter Schiff when he started saying that Bitcoin cannot threaten property because nobody can live in Bitcoin or rent it out. In his opinion, the only threat that Bitcoin poses is those who choose to buy it.
Earlier this week, Bitcoin evangelist Michael Saylor also took part in Scott Melker’s podcast in which he opined that Bitcoin will not and should not be a currency in the United States, Saylor added.
How is #Bitcoin a threat to real estate? Can you live in a bitcoin? Can you do it on vacation? Can you rent it out to someone who needs an apartment to live, vacation, or run a business? Bitcoin is only a threat to those who are foolish enough to buy it.
Schiff mentioned the argument he has used many times – multiple uses for gold, jewelry, and other uses across various industries. Since there is no use for Bitcoin, he concluded, BTC is neither a threat to real estate nor to gold.