Nouriel Roubini Shreds Ethereum (ETH), Says Its Equilibrium Price is Zero

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Fri, 03/13/2020 - 07:29
Alex Dovbnya

The price of Ethereum (ETH) just endured its worst day ever, but economist Nouriel Roubini thinks the carnage is far from over

Cover image via nourielroubini.com
Contents

If there is one thing that Bitcoin (BTC) maximalists and Nobel-winning economist Nouriel Roubini have in common, it’s certainly their disdain for Ethereum (ETH). 

In his recent tweet, 'Dr. Doom' didn’t show any mercy for the largest altcoin, claiming that its equilibrium value is, in fact, zero.

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One day can make a world of difference  

On March 12, which will go down in history books as one of the bloodiest days for global markets, cryptocurrencies got absolutely hammered with Bitcoin and Ethereum both shedding more than 30 percent of their prices in practically no time. 

Ethereum (ETH), which is currently changing hands at just $120, just had the worst day in its entire history.  

As of now, the second-biggest cryptocurrency is down more than 55 percent from its 2020 high of $283 that it reached just a month ago.   

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Mike Novogratz Wins His Bitcoin Bet Against Nouriel Roubini
 

Roubini says that Ethereum (ETH) could go to $0

Since it’s now clear that this is a full-blown bear market, not just a bump in the road, many believe that the carnage will continue. Roubini, however, claims that the coin’s fair value is zero, and it only stays above zero because of manipulations.

The recent crash underscored the fragility of decentralized finance applications that were supposed to revive the altcoin’s luster. MakeDAO, the cornerstone of the DeFi ecosystem, was on the verge of an emergency shutdown after the historic price collapse.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

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