👉👉👉 #Bitcoin Will Tumble After Launch of Digital Ruble, Says Russian Economist
According to Russian economist Alexander Razuvaev, the rollout of digital currencies like the digital ruble could lead to a tumble in Bitcoin prices, although he believes that #cryptocurrency won't completely disappear but rather become marginalized.
Razuvaev, a member of the supervisory board of the Guild of Financial Analysts and Risk Managers, expressed concerns about the current overheated state of the crypto markets, attributing it to unsustainable demand. While he acknowledged the potential for continued short-term price increases, he warned of unpredictable events that could occur "after April," likely referencing the upcoming #Bitcoin Halving event expected around that time.
The economist suggested that the introduction of digital currencies such as the digital ruble, dollar, and euro would create a more favorable environment for investors. He drew parallels between the current crypto market enthusiasm and historical speculative bubbles like the Dutch tulip mania of the 17th century, where tulip bulb prices soared to extraordinary levels before crashing.
However, Razuvaev argued that unlike traditional pyramid schemes, cryptocurrencies won't vanish entirely. He compared them to the notorious MMM Ponzi scheme but noted that crypto would persist albeit in a marginalized capacity.
Regarding the digital ruble specifically, Razuvaev previously speculated that Moscow might eventually mandate its use, especially among pensioners. He believes that the trend toward adopting central bank digital currencies (CBDCs ) will continue to grow over time, driven by technological advancements.
Despite Razuvaev's assertions, the Russian Central Bank Governor has stated that the digital ruble is still in pilot testing and won't be implemented before 2025.
Source - cryptonews.com