Harvard economist Kenneth Rogoff has always been a Bitcoin skeptical. His most recent prediction says bitcoin price will be at $100 in the next decade.
Is Kenneth Rogoff, right? Financial experts are not always correct. Right now, it seems as if most of the Bitcoin price decline is over, although this market is always subject to volatility and speculation. That will continue to affect the price in a rather negative manner for quite some time to come.
Kenneth Rogoff says the value of bitcoin will continue to decline.
“The value per BTC will drop to $100 in the next ten years”, he states.
Even though it sounds interesting, it’s very difficult to back up with solid evidence.
A continual decline in the bitcoin price is simply not feasible. The demand for Bitcoin has not slowed down in the slightest. Right now, Bitcoin is the overly dominant cryptocurrency in the industry and strengthening its position.
There are also the Bitcoin futures contracts to keep in mind. The overall futures trading volume is picking up. It seems Rogoff has not taken those factors into account when making his prediction. Let’s remember Kenneth Rogoff also considers Bitcoin as a money laundering tool.
