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More bitcoin doom by Dr.Doom and the others

11 July 2018 16:54, UTC   |   436
More bitcoin doom by Dr.Doom and the others

After a brief recovery, bitcoin falls again. The first cryptocurrency demonstrates a 5,1% downfall. Its price is about $6376 on 11 of July.

Three famous American economists — Joseph Stiglitz, Nouriel Rubini and Kenneth Rogoff made some negative statements against bitcoin. They claim that cryptocurrency will be regulated more strictly because the world governments combat money laundering even harder than before.

Joseph Stiglitz, a Nobel Prize-winning economist, and professor at Columbia University criticized Bitcoin’s anonymity and stated that the idea of creating “a transparent banking system” is impossible with the existence of anonymous money transfers. In his opinion, no government would allow that.

At the same time, Kenneth Rogoff, a Harvard University professor thinks that the government regulation will lead bitcoin to a further downfall. Rogoff mentioned that the price of bitcoin would be worth as low as $100 in ten years. The so-called “people in power” will take care of regulating “anonymous transactions,” he ensured.

Roubini, the NYU economist who is also famous as Dr. Doom for predicting the 2008 financial crisis, claims that cryptocurrencies are not valuable and cannot be utilized as a means of payment.

“It is not even accepted at bitcoin conferences, and how can something that falls 20% one day and then rises 20% the next be a stable store of value?” — stated the economist.

The results of recent crypto investors’ surveys show that 43% of respondents are sure that bitcoin would become a means of payment very soon. Though, only 35% of them consider bitcoin the best investment. 38% of respondents prefer Ethereum. The majority of interviewees are sure that although bitcoin is a leader in capitalization, someday it will be sidelined by other cryptocurrencies.

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