Critical warning for bitcoin: It can crash at any moment

Nobel prize-winning Yale University professor economist Robert Shiller, who allegedly expects the digital currency Bitcoin to "collapse", likened the sudden increase in price to the "Tulip Madness" that lived centuries ago.

Speaking to CNBC, Nobel prize-winning economist Robert Shiller argued that Bitcoin would not have real value unless the community had a consensus on the price. Economist Shiller said, "Other assets, such as gold, have a price, even if people do not evaluate them for investment."

"REMEMBERING LALE FRIENDS IN THE NETHERLANDS"

"The current situation reminds me of the Tulip Madness that lived in the Netherlands in the 1640s," says Shiller, "We still pay for the tulips and sometimes we pay a lot of money, Bitcoin can collapse at any moment and everyone can forget it. However, it may take a long time, even 100 years, until then. "

Lale Madness is the name given to the return of the prices of tulips on the Netherlands suddenly rising and collapsing, leading to a major economic downturn (1636-1637).

Bitcoin suddenly started to decline in the past few weeks after seeing the level of 20 thousand dollars in last December. It is currently trading at $ 12,500.