A prominent economist describes Bitcoin as just another bubble: Details A prominent economist describes Bitcoin as just another bubble: Details 26345853041

Not everyone is excited and a fan of Bitcoin.

There are those who see it as just a bubble and it does not have any advantages that would enable it to be classified as a diversified asset or a safe haven that can be resorted to in times of crisis.

Among the second category, we find the economist “Robin Brooks”, the former chief economist at the Institute of International Finance, who recently stated and confirmed his position on Bitcoin, that it is a bubble and that the recent rise is only a temporary rise that came after the US Federal Reserve cut interest rates.

But after the price of Bitcoin reached and approached achieving a new peak, the crypto community attacked and criticized Brooks’ statements and told him that he would regret it if he did not invest in Bitcoin and benefit from the peaks that the currency achieves every period of time.

It is worth noting that the price of Bitcoin fell in 2022 after the Federal Reserve raised interest rates, which means that Brooks' statements bear some truth regarding the direct impact of the Federal Reserve's interest rate cuts, as investment funds are directed to safer and less volatile assets.