Mubasher: No matter how long bitcoin lingered on trading, it would totally collapse at the end, the Nobel prize-winning economist Robert Shiller told CNBC on Friday.

"It has no value at all unless there is some common consensus that it has value. Other things like gold would at least have some value if people didn't see it as an investment," the economics’ professor at Yale University said.

Researchers suggested that cryptocurrencies traders are now experiencing something similar to what happened during the major bubbles in the stock markets.

Sharp and sudden declines during these bubbles had negative impacts on investors’ mental health, and that can be applied to the virtual currencies market as well, researchers found.

These impacts could range from sadness, anxiety, and depression to panic disorders, they clarified.

Shiller had previously pointed out that the crazy volatility and fluctuation seen in digital currency markets could be a marvelous study about human behavior to show how millions of human brains process stimuli coming.

Bitcoin last inched up 0.64% to $11,910.60, only two days after dropping by around 50% from its record high reached five weeks ago.

Similarly, ethereum rose 2.12% to $1,085.45 after recovering from sharp falls, while ripple grew 6.94% to $1.68, having slumped below $1 on Wednesday.

Total market capitalisation reached around $593.5 billion by 11:54 am GMT.