<span style="font-weight: 400">Nouriel Roubini, the famous Bitcoin basher and also a Nobel laureate, did not take to crypto Twitter to celebrate the Bitcoin price rise which has crossed the $10,000 mark. Instead, Roubini stated that the whole crypto land was a scam when the top digital currency was redying to reach its latest all-time high.     </span>
<h2><b>PlusToken Has Caused A Huge Loss</b></h2>
<span style="font-weight: 400">A comment also came from Roubini on an article about the PlusToken scam which was published by the international daily newspaper, the Wall Street Journal. The operators of PlusToken stole over $4 billion from its unpropitious investors. However, Roubini was very much sure that cryptocurrency scams have extended far beyond this PlusToken scam and could be estimated to have caused a loss of about $40 billion. </span>

<span style="font-weight: 400">According to some reports,</span><a href="https://twitter.com/chainalysis?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor"> <span style="font-weight: 400">Chainalysis</span></a><span style="font-weight: 400">, a prominent blockchain analysis company, has concluded that PlusToken might be responsible for about 50 per cent Bitcoin correction that occurred in the second half of 2019. </span>
<h2><b>What The Famous PlusToken Scam Was</b></h2>
<span style="font-weight: 400">PlusToken scam was a Bitcoin scam which occurred in South Korea. According to Jacob Canfield, a market expert and co-founder of SignalProfits.com, PlusToken fraud could be responsible for the bearish price action of Bitcoin. Also, it was earlier revealed that</span><a href="https://www.cryptoknowmics.com/news/100m-worth-ether-moved-from-plustoken-wallet"> <span style="font-weight: 400">Ether worth $100 million was transferred through a PlusToken wallet</span></a><span style="font-weight: 400">.</span>
<h2><b>Roubini Was Very Much Incorrect About The Prediction</b></h2>
<span style="font-weight: 400">Bitcoin bears were not able to reach the price target set by Nouriel Roubini, although PlusToken fastened the selling pressure. Earlier in May 2019, Mike Novogratz, CEO of Galaxy Digital, challenged Roubini to make a bet that on Christmas Day, Bitcoin would be traded more than $6,000. </span>

<span style="font-weight: 400">On 18 December, Bitcoin reached the lowest point of $6,471, and the CEO of Galaxy Digital proved to be correct. However, Roubini could not be expected to wear a T-Shirt displaying "I love Bitcoin" since the bet was not accepted by him in public.</span>

Nouriel Roubini Believes The Entire Crypto Land Is Full Of Scams

Nouriel Roubini, a Bitcoin hater and Nobel laureate, did not participate crypto Twitter to celebrate the Bitcoin price which has crossed the $10,000 mark.

Shailesh is an ardent follower of the crypto world and keenly watches every development taking place in the cryptocurrency space. He loves to voice his opinions through well-curated blogs and articles, which throw light on different facets of the crypto industry.

Nouriel Roubini Believes The Entire Crypto Land Is Full Of Scams

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