{"id":132860,"date":"2021-07-20T20:04:06","date_gmt":"2021-07-20T20:04:06","guid":{"rendered":"https:\/\/precoinnews.com\/?p=132860"},"modified":"2021-07-20T20:04:06","modified_gmt":"2021-07-20T20:04:06","slug":"fundamentally-bitcoin-should-go-much-lower-nouriel-roubini-screams-after-btcs-fall-under-30000","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/bitcoin\/fundamentally-bitcoin-should-go-much-lower-nouriel-roubini-screams-after-btcs-fall-under-30000\/","title":{"rendered":"\u2018Fundamentally, Bitcoin Should Go Much Lower\u2019, Nouriel Roubini Screams After BTC\u2019s Fall Under $30,000"},"content":{"rendered":"<p>It has been a rough 24 hours for bitcoin investors. After trading sideways for a couple of weeks, bitcoin finally broke below the $30,000 support region for the first time in a month on Tuesday. The downward move has inadvertently cost the flagship cryptocurrency majority of the gains it had accumulated during the 2021 bull rally.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/s3.tradingview.com\/snapshots\/u\/UlZH4xBF.png\"><\/p>\n<p>Economist Nouriel Roubini \u2014 nicknamed Dr. Doom for accurately predicting the 2008 financial crisis \u2014 took to Twitter on Monday to warn investors that Bitcoin is headed for deeper price declines after dropping below $30K.<\/p>\n<h2><strong>Bitcoin Sits On Thin Ice: Dr. Doom<\/strong><\/h2>\n<p>Despite peaking just below $65,000 in mid-April, bitcoin is essentially back to where it was before the parabolic phase of this year\u2019s bull market started. And Roubini \u2014 who has been predicting bitcoin\u2019s impending doom since at least 2015 \u2014 did not pass up the chance to gloat that with BTC price moving below $30K, all retail investors that entered the market after March 2021 have incurred losses.<\/p>\n<p>He noted that bitcoin\u2019s current fundamental factors show that the dormant cryptocurrency is on the verge of stumbling even lower.<\/p>\n<p>For the bitcoin sadist, the main question now is: will Tether\u2019s \u201cpump and dump schemes\u201d save the top-ranked cryptocurrency from an apocalyptic crash as they have previously done?<\/p>\n<p>Earlier in January, bitcoin\u2019s price took a dive from $34,000 to around $28,700 after shedding over 16% of its value within 24 hours. A quick bounce ensued that took the price back above $31K. At the time, Roubini described bitcoin as a <em>\u201ctotal irrational bubble on a pseudo asset\u201d <\/em>with no intrinsic value. He added that the bounce back surfaced when<em> \u201cfiat currency printing of Tether resumed in full scale &amp; active manipulation of BTC started.\u201d<\/em><\/p>\n<h2><strong>Bitcoin\u2019s Short-Term Outlook Looks Dicey<\/strong><\/h2>\n<p>Edward Moya, senior market analyst at Oanda has observed that concerns of the recent dramatic surge in the Delta variant of COVID-19 cases have triggered panic selling across major assets, with bitcoin being \u201cthe ultimate risky asset\u201d at the moment.<\/p>\n<p>Moya proposed that bitcoin could fall towards the $28,900 zone once the $30K support level is broken.<em> \u201cThat could be the line in the sand for defending a deeper plunge toward the $25,000\u201d,<\/em> he explained.<\/p>\n<p>Moreover, the founder of VC investment firm Kenetic Capital, Jehan Chu, also\u00a0indicated during a <em>CNBC <\/em>interview that <em>\u201call signals are red as BTC continues to be weighed down by China\u2019s ultimate crypto ban and worsening macroeconomic conditions from a surge in COVID variants.\u201d<\/em><\/p>\n<p>With all these bearish indicators, how long the current downward bitcoin trend continues is anyone\u2019s guess.<\/p>\n<p>Source: <a href=\"https:\/\/zycrypto.com\/fundamentally-bitcoin-should-go-much-lower-nouriel-roubini-screams-after-btcs-fall-under-30000\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>It has been a rough 24 hours<\/p>\n","protected":false},"author":3,"featured_media":132859,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[47],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>\u2018Fundamentally, Bitcoin Should Go Much Lower\u2019, Nouriel Roubini Screams After BTC\u2019s Fall Under $30,000 - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/bitcoin\/fundamentally-bitcoin-should-go-much-lower-nouriel-roubini-screams-after-btcs-fall-under-30000\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"\u2018Fundamentally, Bitcoin Should Go Much Lower\u2019, Nouriel Roubini Screams After BTC\u2019s Fall Under $30,000 - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"It has been a rough 24 hours\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/bitcoin\/fundamentally-bitcoin-should-go-much-lower-nouriel-roubini-screams-after-btcs-fall-under-30000\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2021-07-20T20:04:06+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/07\/\u2018Fundamentally-Bitcoin-Should-Go-Much-Lower-Nouriel-Roubini-Screams-After-BTCs-Fall-Under-30000-.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/bitcoin\/fundamentally-bitcoin-should-go-much-lower-nouriel-roubini-screams-after-btcs-fall-under-30000\/\",\"url\":\"https:\/\/precoinnews.com\/bitcoin\/fundamentally-bitcoin-should-go-much-lower-nouriel-roubini-screams-after-btcs-fall-under-30000\/\",\"name\":\"\u2018Fundamentally, Bitcoin Should Go Much Lower\u2019, Nouriel Roubini Screams After BTC\u2019s Fall Under $30,000 - Pre Coin News\",\"isPartOf\":{\"@id\":\"https:\/\/precoinnews.com\/#website\"},\"datePublished\":\"2021-07-20T20:04:06+00:00\",\"dateModified\":\"2021-07-20T20:04:06+00:00\",\"author\":{\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\"},\"breadcrumb\":{\"@id\":\"https:\/\/precoinnews.com\/bitcoin\/fundamentally-bitcoin-should-go-much-lower-nouriel-roubini-screams-after-btcs-fall-under-30000\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/precoinnews.com\/bitcoin\/fundamentally-bitcoin-should-go-much-lower-nouriel-roubini-screams-after-btcs-fall-under-30000\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/precoinnews.com\/bitcoin\/fundamentally-bitcoin-should-go-much-lower-nouriel-roubini-screams-after-btcs-fall-under-30000\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/precoinnews.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Bitcoin\",\"item\":\"https:\/\/precoinnews.com\/category\/bitcoin\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"\u2018Fundamentally, Bitcoin Should Go Much Lower\u2019, Nouriel Roubini Screams After BTC\u2019s Fall Under $30,000\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/precoinnews.com\/#website\",\"url\":\"https:\/\/precoinnews.com\/\",\"name\":\"Pre Coin News\",\"description\":\"precoinnews.com\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/precoinnews.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\",\"name\":\"mediabest\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g\",\"caption\":\"mediabest\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"\u2018Fundamentally, Bitcoin Should Go Much Lower\u2019, Nouriel Roubini Screams After BTC\u2019s Fall Under $30,000 - Pre Coin News","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/precoinnews.com\/bitcoin\/fundamentally-bitcoin-should-go-much-lower-nouriel-roubini-screams-after-btcs-fall-under-30000\/","og_locale":"en_US","og_type":"article","og_title":"\u2018Fundamentally, Bitcoin Should Go Much Lower\u2019, Nouriel Roubini Screams After BTC\u2019s Fall Under $30,000 - Pre Coin News","og_description":"It has been a rough 24 hours","og_url":"https:\/\/precoinnews.com\/bitcoin\/fundamentally-bitcoin-should-go-much-lower-nouriel-roubini-screams-after-btcs-fall-under-30000\/","og_site_name":"Pre Coin News","article_published_time":"2021-07-20T20:04:06+00:00","author":"mediabest","twitter_card":"summary_large_image","twitter_image":"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/07\/\u2018Fundamentally-Bitcoin-Should-Go-Much-Lower-Nouriel-Roubini-Screams-After-BTCs-Fall-Under-30000-.jpg","twitter_misc":{"Written by":"mediabest","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/precoinnews.com\/bitcoin\/fundamentally-bitcoin-should-go-much-lower-nouriel-roubini-screams-after-btcs-fall-under-30000\/","url":"https:\/\/precoinnews.com\/bitcoin\/fundamentally-bitcoin-should-go-much-lower-nouriel-roubini-screams-after-btcs-fall-under-30000\/","name":"\u2018Fundamentally, Bitcoin Should Go Much Lower\u2019, Nouriel Roubini Screams After BTC\u2019s Fall Under $30,000 - Pre Coin News","isPartOf":{"@id":"https:\/\/precoinnews.com\/#website"},"datePublished":"2021-07-20T20:04:06+00:00","dateModified":"2021-07-20T20:04:06+00:00","author":{"@id":"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a"},"breadcrumb":{"@id":"https:\/\/precoinnews.com\/bitcoin\/fundamentally-bitcoin-should-go-much-lower-nouriel-roubini-screams-after-btcs-fall-under-30000\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/precoinnews.com\/bitcoin\/fundamentally-bitcoin-should-go-much-lower-nouriel-roubini-screams-after-btcs-fall-under-30000\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/precoinnews.com\/bitcoin\/fundamentally-bitcoin-should-go-much-lower-nouriel-roubini-screams-after-btcs-fall-under-30000\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/precoinnews.com\/"},{"@type":"ListItem","position":2,"name":"Bitcoin","item":"https:\/\/precoinnews.com\/category\/bitcoin\/"},{"@type":"ListItem","position":3,"name":"\u2018Fundamentally, Bitcoin Should Go Much Lower\u2019, Nouriel Roubini Screams After BTC\u2019s Fall Under $30,000"}]},{"@type":"WebSite","@id":"https:\/\/precoinnews.com\/#website","url":"https:\/\/precoinnews.com\/","name":"Pre Coin News","description":"precoinnews.com","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/precoinnews.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a","name":"mediabest","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/precoinnews.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g","caption":"mediabest"}}]}},"_links":{"self":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts\/132860"}],"collection":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/comments?post=132860"}],"version-history":[{"count":0,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts\/132860\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/media\/132859"}],"wp:attachment":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/media?parent=132860"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/categories?post=132860"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/tags?post=132860"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}