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Nobel Prize-Winning Economist Predicts the Great Bitcoin Depression
News Analysis

Written by James McLauren, 02.12.2017

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With the interesting movements Bitcoin has been experiencing this past week more and more economists are sharing their personal opinion on everybodys favorite crypto. Robert J. Shiller Nobel prize-winning economist outlined his predictions on a bitcoin crash which Shiller himself compared to the stock market crash of 1929. Shiller gained wide-scale attention by previously predicting the dotcom and housing bubbles; however both predictions were based on historical data which the cryptocurrency does not have a substantial amount of.

Shillers observations and prediction of Bitcoin and cryptocurrencies being a bubble was derived from Bitcoin reaching an all-time high of around $11 400 and quickly dropping to about $9 200 in the span of a few hours. Ultimately the price began to recover and it is now back to almost $11 000.

Will Bitcoin and cryptocurrencies all together be just another Tulip Mania? Or the next financial revolution?

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