Bitcoin Tumbles After Saudi Prince Calls Crypto - "Enron In The Making"

Another day, another elite with a petrodollar ax to grind denigrates crytpocurrencies.

This morning's prognosticator was Saudi Arabian Prince Alwaleed bin Talal Al Saud who told CNBC...

"I just don’t believe in this bitcoin thing. I think it’s just going to implode one day. I think this is Enron in the making."

 

"It just doesn’t make sense. This thing is not regulated, it’s not under control, it’s not under the supervision" of any central bank.

And while Bitcoin had been sliding, it accelerated on the prince's comments...

However, we do note that Bitcoin is already bouncing back up from 5610 lows to 5740, as perhaps the prince is highlighting 'features' not 'bugs' in the virtual currency.