Paul Krugman Warns of Cryptocurrency 'Fimbulwinter'

Nobel laureate Paul Krugman has issued a warning that the cryptocurrency market is entering a 'Fimbulwinter,' a term used to describe a prolonged bearish period. According to NS3.AI, Krugman highlighted that Bitcoin lacks strong fundamental support and does not represent truly futuristic technology. He noted that Bitcoin is younger than the first iPhone, suggesting skepticism about its long-term viability in the face of current market challenges.