A member of the Governing Council of the European Central Bank (ECB) has warned that “the [cryptocurrency] bubble has already started to collapse,” Bloomberg reported Jan. 7.
Speaking at a conference in Riga, Latvia, Ardo Hansson — also the governor of Estonia’s central bank — stated that digital currencies will end up as a “complete load of nonsense.” The official warned that “the bubble has already started to collapse and maybe we should just see how far this collapse goes, and what is left when we’ve reached a new kind of equilibrium.” Hansson added: