Bitcoin keeps growing on Thursday. At press time, the cryptocurrency is trading at $ 7,559. This is equivalent to a daily increase in the value of 7.19%. Other assets from the TOP 10 of CoinMarketCap rating also demonstrated positive dynamics.
However, economist Nouriel Roubini, who predicted a global financial crisis, drew attention to the situation around Ethereum cryptocurrency amid the theft of $ 50 million in ETH from the South Korean exchange Upbit. The specialist believes that “crypto-apocalypse” has arrived in the digital asset market.
Crypto-Apocalypse: Ethereum down 90% from the peak, in free fall and now close to the 2018 low. Still a long way from zero that is its fundamental value. Actually it is worth negative given all the toxic externalities of energy waste and pollution that its mining generates
— Nouriel Roubini (@Nouriel) November 27, 2019
Other assets, the specialist noted, are also traded below their peak value.
At the same time, according to the service CoinFairValue, the price of Ripple’s coin XRP is underestimated. Therefore, the fair value of the asset is about $ 1, which is five times higher than its current market value based on the practical use of the coin.
Against the backdrop of rising prices in the digital asset market, the famous trader Peter Brandt, who had previously predicted a drop in Bitcoin prices in 2018, noted a BTC rate rebound from the moving average. Technically, the indicator speaks about the prospect of a positive movement.
