Digital Currency Group Bankruptcy Risk To Cause Huge Bitcoin Dip – Nouriel Roubini
Nouriel Roubini, a seasoned economist, stated on his previous page that the bitcoin price may even go lower. According to him, the CEO of Digital Currency Group (DCG) is at risk of going bankrupt, and when that happens, the price of bitcoin will most definitely dip further.
Digital Currency Group (DCG) May Go Bankrupt
The chairman of Roubini Macro Associates LLC, Nouriel Roubini, who is a seasoned and well-experienced economist, has predicted the fall of Digital Currency Group (DCG).
According to him, there is a considerable chance that DCG will go bankrupt given the careful evaluation of the current state of things.
Roubini has taken to his Twitter page to explain how DCG going bankrupt would drastically affect the price of bitcoin and generally other cryptocurrencies too.
Given the state of the market right now, this prediction of Nouriel Roubini, who was dubbed “Dr Doom,” has elicited plenty of responses in the crypto market.
Many spectators are fearful, while on the other hand, a section of crypto traders and investors have called his bluff.
Genesis’ Situation Fueling The Bankruptcy Theory
On the 18th of November, Genesis Global Trading, a crypto lending company, made public its intention to stop withdrawals. Attributing the reason to a number of strange and irregular requests for withdrawals that they received, Genesis claimed that the company had to take the step to ensure normalcy.
Also, Genesis had tagged its actions as a result of the famous crypto exchange packing up.
The action caused a great public outcry and even more panic when a released confidential document proved otherwise. Investors are now led to believe that Genesis’s reason was nothing but a mere convenient lie.
Also, the explanation given by the company has failed to placate the public. Users and investors are now being led to prepare for the worst.
Genesis Global Trading is affiliated with Digital Currency Group, and the current situation of things has fuelled Nouriel Roubini’s prediction, rightly so.
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