'Dr. Doom' Predicts Catastrophic Finish for Cryptocurrencies – U.At the moment

Nouriel Roubini has warned about an impending cryptocurrency market “apocalypse.” In line with Roubinin, even probably the most pro-crypto administration in historical past has failed to avoid wasting a sector he claims presents no use instances past crime and corruption.

The failing pro-crypto administration 

A yr in the past, the narrative was that the brand new pro-crypto administration was purported to mark the daybreak of a brand new golden age for cryptocurrency. 

The promise of deregulation prompted cryptocurrency evangelists to foretell that the main cryptocurrency may probably surge to $200,000.  

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The truth, nevertheless, has been a catastrophe. The market has cratered regardless of some efforts from the administration to propel it

As of February 2026, Bitcoin is down 35% from its October peak. On Tuesday, it reached the bottom degree since November 2024. 

The implosion of “digital gold” 

Geopolitical instability, commerce disputes, and ballooning deficits pushed gold costs up by over 60%. In sharp distinction, Bitcoin fell by 6% over the identical interval.

“Each time gold has spiked in response to commerce or geopolitical ructions over the previous yr, Bitcoin has fallen sharply,” Roubini writes. “Removed from being a hedge, it’s a technique to leverage danger.”

Roubini argues that calling crypto a forex has all the time been “bogus.” He’s satisfied that it fails as a unit of account, a method of fee, and a retailer of worth. 

The top of the experiment 

Roubini concludes that the one “killer app” crypto has produced in 17 years is the stablecoin.

He warns that true decentralized finance (DeFi) won’t ever scale as a result of no severe authorities will permit the anonymity required for it to operate, as it will be a boon for criminals.  

The way forward for cash, he argues, shall be a “gradual evolution” led by improved conventional ledgers.