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Strategies & Market Trends : Technical analysis for shorts & longs

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From: Johnny Canuck	2/9/2026 10:19:01 PM
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In this interview with Bloomberg Podcasts, Nobel Laureate economist Paul Krugman discusses his skepticism regarding the future of cryptocurrency and its current relationship with U.S. politics. The "Fimbulwinter" of Crypto A Final Winter: Krugman describes the current market downturn as a "Fimbulwinter"—a Norse mythological term for the final winter before the end of the world [ 00:19]. Lack of Fundamentals: He argues that Bitcoin has no underlying fundamentals (like price-earnings ratios) and its value is driven entirely by "vibes" and faith rather than utility [ 00:34]. Shift from Ideology to Politics: While previous rallies were fueled by libertarian ideology, Krugman believes the recent surge to $125,000 was driven by political association with Donald Trump and institutional "hoarders" like MicroStrategy [ 00:48]. Political Exposure and Potential Bailouts Political Risk: Krugman notes that Bitcoin's value is now tied to Trump’s political prospects, which makes it more vulnerable than when it was backed by decentralized ideology [ 01:25]. Bailout Feasibility: He expresses skepticism that the Trump administration could or would bail out the $2.5 trillion crypto industry due to potential public outrage and the industry's reputation for corruption [ 04:22]. Conflicts of Interest: The interview touches on the personal financial stakes of the Trump family and government officials (like Howard Lutnick) in the crypto market, questioning if true transparency is possible given these ties [ 05:27]. Bitcoin as a "Total Bust" Utility vs. Crime: Krugman asserts that Bitcoin has failed as a legitimate currency. While it is used for bypassing capital controls or paying ransoms to cybercriminals, it has made no inroads as a standard means of payment [ 08:14]. Stagnant Technology: He highlights that Bitcoin is 17 years old—nearly as old as the first iPhone—and argues that if it hasn't become a "superior form of money" by now, it likely never will [ 08:52]. Video Link: Nobel Laureate Paul Krugman Calls Bitcoin 'Total Bust' Nobel Laureate Paul Krugman Calls Bitcoin 'Total Bust'

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