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Bitcoin Is In A “Massive Bubble”, Says Economist David Rosenberg

Mary Liu

Summary: David Rosenberg, the chief economist of Rosenberg Research, said in an interview with Bloomberg that the current Bitcoin market is the classic "follow the herd", Bitcoin is in a "massive bubble". Rosenberg kept his point of view that the FOMO psychological hits investors who don't even know the creator of Bitcoin or how to mine it, ...

David Rosenberg, the chief economist of Rosenberg Research, said in an interview with Bloomberg that the current Bitcoin market is the classic "follow the herd", Bitcoin is in a "massive bubble".

Rosenberg kept his point of view that the FOMO psychological hits investors who don't even know the creator of Bitcoin or how to mine it, and there are no clear descriptions that once the 21 million supply cap is reached, it will no longer be mined. Rosenberg also tweeted ironically: "So one Bitcoin buys you 500 barrels of oil, a Honda Civic or half a year's wage. But there's no bubble. Sure thing."

BY Mary Liu

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