Ethereum Is Still A Long Way From $0 As Its “Fundamental Value”: Dr. Doom

Nouriel Roubini, known as Dr. Doom, has taken a couple of new swings in bashing cryptocurrency. This time, he spoke about ETH and how Ethereum is still a long way from its “fundamental value” of $0. Just like his attempts to criticize Bitcoin, Roubini is sure that ETH will be hitting $0 a piece in the long run.

If you have been following our cryptocurrency news, you probably know how Dr. Doom lambasts cryptocurrencies. Nouriel Roubini is a name that is attached to a lot of cryptocurrency critics all over the media. His skepticism of countless financial markets definitely includes the skepticism at Bitcoin – which has been present for a handful of years now.

Ethereum is still far way from zero, according to Dr. Doom, who retorted to his haters by saying that Bitcoin “has given rise to an entirely new criminal industry, comprising unregulated offshore exchanges, paid propagandists, and an army of scammers looking to fleece retail investors.”

Apparently, Nouriel Roubini thinks that Bitcoin is not the only loser – and that the hate extends to Ethereum, too. He remarked in a recent tweet that while ETH is already 90% down from its peak of $1,400, it is also in a “free fall” closing on its 2018 low. Because of this, Ethereum is still in a bad position and remains a “long way from Because of this, Ethereum is still in a bad position and remains a “long way from $0, which is its fundamental value,” as Roubini stated., which is its fundamental value,” as Roubini stated.
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Dr. Doom even went as far as to say that the current value of ETH may actually be “negative” given all the toxic externalities of energy waste and pollution that its mining generates. You can see the full bashing and the analysis on ETH by Roubini in the tweet below.

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

In contrast to this, it is obvious that the Ethereum today’s news are not showing spikes. However, the project has undoubtedly seen some strong fundamental developments over the recent weeks and months.

And while Ethereum is still in a fragile position, its adoption is growing. This year, Banco Santander has issued the first blockchain bond using Ethereum. Plus, analysts say that the cryptocurrency may soon get its own futures market and its price will apparently grow even more because of the scheduled Istanbul hard fork which is set to take place on December 4th during the blockchain’s block 9069000.