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On November 28, "Dr. Doom" Nouriel Roubini said in an interview: "Bitcoin is very volatile. If you want to preserve wealth, not high volatility, you should stay away from this type of asset." According to data compiled by Bloomberg, about $6.80 billion flooded into US ETFs that invest directly in bitcoin in the period after Trump won the election. The total assets of the 12 ETFs are about $100 billion.
Nouriel Roubini, the Doctor Doom economist, argued that the market was pricing too pessimistic that the US economy was heading for a hard landing and that the Fed would slash interest rates. "There is some important evidence of a slowdown, but I don't think the data suggest a hard landing is imminent," he said. "There are actually some strong factors in the economy." Mr. Roubini's comments come as markets expect the Fed to cut rates by about 100 basis points before the end of the year....
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