ICOs have raised over $4 billion and become a darling of some criminals looking to make a quick buck off mom-and-pop investors. Roubini, a noted bitcoin critic, told Bloomberg Radio's Tom Keene that regulators had "fallen asleep at the wheel" when it comes to cryptocurrencies - specifically by not cracking down on initial coin offerings, a crypto twist on initial public offerings. Most striking was bitcoin's fall below $8,000, marking a drop of more than $2,000 in two days.īitcoin's dip below $9,000 on Thursday seems to have spooked the market, with bitcoin losing 12% in Friday trading. "The Mother of All Bubbles and Biggest Bubble in Human History Comes Down Crashing."Ĭrypto's terrible start to the year deepened Friday, according to data from Markets Insider. Down 60% from the peak, 40% in a month and over 10% today," he said. "Now bitcoin crashing below 8000, headed towards 7000. Account icon An icon in the shape of a person's head and shoulders.
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