{"id":21394,"date":"2026-02-05T14:35:21","date_gmt":"2026-02-05T14:35:21","guid":{"rendered":"https:\/\/bitunikey.com\/news\/crypto-market-crashes-as-a-top-economist-predicts-a-cryptocurrency-apocalypse\/"},"modified":"2026-02-05T14:35:32","modified_gmt":"2026-02-05T14:35:32","slug":"crypto-market-crashes-as-a-top-economist-predicts-a-cryptocurrency-apocalypse","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/crypto-market-crashes-as-a-top-economist-predicts-a-cryptocurrency-apocalypse\/","title":{"rendered":"Crypto market crashes as a top economist predicts a cryptocurrency apocalypse"},"content":{"rendered":"<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">The crypto market continued its recent crash today, Feb. 5, with Bitcoin falling below the key support at $70,000 and the valuation of all coins moving to $2.3 trillion from a record high of over $4.2 trillion.<\/p>\n<div id=\"cn-block-summary-block_2b60a4467673591342b2a893513c0c1b\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>The crypto market crash accelerated on Thursday, with Bitcoin moving below $70,000.<\/li>\n<li>Nouriel Roubini, a top economist, has warned of an impending crypto apocalypse.<\/li>\n<li>On the positive side, Bitcoin and most altcoins have become highly oversold.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<h2 class=\"wp-block-heading\">Roubini is ready for a crypto market apocalypse\u00a0<\/h2>\n<p>The Bitcoin (BTC) sell-off accelerated. And Nouriel Roubini, a top economist popularly known as \u201cDr. Doom,\u201d expects the top cryptocurrency and most altcoins to continue falling. Why? Not enough people use them. <\/p>\n<p>Bitcoin remains in a bear market, while gold hovers near its all-time high, despite many proponents calling it a safe-haven asset.<\/p>\n<p>Roubini, who accurately predicted the Global Financial Crisis, also warned that most cryptocurrencies were blockchain in name only. He <a rel=\"nofollow\" target=\"_blank\" rel=\"nofollow\" href=\"https:\/\/x.com\/nouriel\/status\/2019102926828974128?s=46\">said<\/a>:<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201c95%\u00a0 of \u2018blockchain\u2019 monies and digital services are blockchain in name only. They are private rather than public, centralized rather than decentralized, permissioned rather than permissionless, and validated by a small group of trusted authenticators.\u201d<\/p>\n<\/blockquote>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">The Coming Crypto Apocalypse <\/p>\n<p>By <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/twitter.com\/Nouriel?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">@Nouriel<\/a> Roubini <\/p>\n<p>The future of money and payments will feature gradual evolution, not the revolution that crypto-grifters promised. Bitcoin and other cryptocurrencies\u2019 latest plunge further underscores the highly volatile nature of this\u2026<\/p>\n<p>\u2014 Nouriel Roubini (@Nouriel) <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/twitter.com\/Nouriel\/status\/2019102926828974128?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">February 4, 2026<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<h2 class=\"wp-block-heading\"><strong>Doom isn\u2019t alone<\/strong><\/h2>\n<p>Other popular analysts have warned about the crypto industry. <\/p>\n<p>For example, Peter Schiff, a top gold bull has continued to predict that the coin will continue falling over time.<\/p>\n<p>However, other crypto proponents have argued that the ongoing crypto crash is a normal part of the process, citing other crypto crashes in the past. For example, Bitcoin dropped by over 70% in 2022 as companies like Terra and FTX crashed. In a statement, Michael Novogratz said:<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cI do think we are at the lower end of the range. What I would say is we have been here before. Anyone who has been in crypto for more than five years realizes that part of the ethos of this whole industry is pain.\u201d<\/p>\n<\/blockquote>\n<p>    <!-- .cn-block-related-link --><\/p>\n<p>There are a few reasons why the crypto market may recover in the coming weeks or months. First, the Federal Reserve will likely continue cutting interest rates, which will make risky assets more attractive\u00a0\u00a0<\/p>\n<p>Second, the Crypto Fear and Greed Index<strong> <\/strong>has moved to the extreme fear zone of 11. In most cases, crypto prices normally rebound when the index moves to the extreme fear zone\u00a0 as we saw in December last year.<\/p>\n<figure class=\"wp-block-image size-full\"><figcaption class=\"wp-element-caption\">BTC price chart | Source: crypto.news<\/figcaption><\/figure>\n<p>Additionally, the Relative Strength Index of most coins, including Bitcoin and Ethereum, has moved to the extreme fear zone. Other oscillators, like the Stochastics have also moved to the oversold level, where rebounds normally happen.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The crypto market continued its recent crash today, Feb. 5, with Bitcoin falling below the key support at $70,000 and the valuation of all coins moving to $2.3 trillion from&hellip;<\/p>\n","protected":false},"author":1,"featured_media":3658,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-21394","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/21394","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=21394"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/21394\/revisions"}],"predecessor-version":[{"id":21395,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/21394\/revisions\/21395"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/3658"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=21394"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=21394"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=21394"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}