Two of the biggest and outspoken personalities in the cryptosphere, Nouriel “Dr. Doom” Roubini and John McAfee each took to Twitter to give their two cents on the latest bear market.
With BTC down almost 80% from peak (from 20K to ~4K) & all other cryptocurrencies down 80% to 99% I rest my case that this crypto bubble went bust for good. I feel vindicated. So I will take a break for a few days from this toxic Crypto Twitter. Waste of time to convince zealots— Nouriel Roubini (@Nouriel) November 20, 2018
Roubini was quick to ring the victory bell and pat himself on the back after years of calling cryptocurrencies a "cryptoscam." The NYE Stern professor recently wrote an article claiming that Central Bank-issued digital currencies would provide all the pros of cryptocurrencies (instantaneous, low fee, and trackable) with all the security, regulation, and scalability of fiat money.
People have panicked. But there's no fucking need. We're in a bear market. They suck, yes, and not like a hooker with no teeth. But I'm 73 and have seen this dozens of times in many markets. Bear markets are like Winter. It's always followed by a glorious Spring. Fucking relax.— John McAfee (@officialmcafee) November 20, 2018
McAfee, on the other hand, advised calm and claimed that this is merely a downturn that will result in a bull market as seen many times before. He urged the cryptosphere to "Fucking Relax," which he can be seen practicing what he preached in the following video:
Together they represent two distinct takes on the current market downturn.