Bitcoin Likely To Drop to $100, Harvard Analyst Declares

Kenneth Rogoff, a Harvard economist said today, in an interview with CNBC that Bitcoin is headed to a massive decline in its price in the far future.
He declared this when asked about his stance on the actual price of bitcoin. He literally stated that: “I think bitcoin will be worth a tiny fraction of what it is now if we’re headed out 10 years from now … I would see $100 as being a lot more likely than $100,000 ten years from now”. He based this on the assumption that regulation will be paramount to reduce actual bitcoin use cases, referring to money laundering and illegal transactions.
Further into the interview, he declared that this will happen when all important countries have equal regulation for cryptocurrencies. This won’t happen overnight. But statistics about the use of bitcoin for illegal transactions are almost non-existent.
Regulation has already happened in various countries and bitcoin adoption has not slowed down. Cases like Japan and Germany show that cryptocurrencies and blockchain are being used for things other than money laundering and tax evasion.

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