Bitcoin ‘may not last that much longer,’ academic warns

[superadmin]

• Eswar Prasad, senior professor of international trade policy at Cornell University, told CNBC’s “Squawk Box Europe” earlier this month: “Bitcoin itself may not last that much longer.”
  
• Bitcoin’s price has been highly volatile over the last few years and in the last month the price of a bitcoin has fallen from around $58,000 to less than $48,000.
  
• While there used to be just a few cryptocurrencies, today there are hundreds and some of them are more useful and more environmentally-friendly than bitcoin.
  
  

he future of bitcoin is anyone’s guess, but one academic has warned that the world’s most popular cryptocurrency could fade out in the near future.

Eswar Prasad, senior professor of international trade policy at Cornell University, told CNBC’s “Squawk Box Europe” earlier this month: “Bitcoin itself may not last that much longer.”

Bitcoin’s price has been highly volatile over the last few years and in the last month the price of one coin has fallen from around $58,000 to less than $46,000. At 10:15 a.m. ET on Friday, the price of a bitcoin was $45,637.

While there used to be just a few cryptocurrencies, today there are hundreds and some of them are more useful and more environmentally-friendly than bitcoin.

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[opponentm]

I can't entirely agree with this statement because you can't judge economics based only on the last 10 years. The covid 19 speeded up the economy's evolution, and now we see the results of a lack of an economic system; that's why so many problems have appeared in the last two years. Traditional investment can't keep it up now, and people should use something new to stable the situation and develop further. Personally for me, the main reason why I buy bitcoin is the protection of my anonymity. I chose now to be visible, and I want to have this right; that's why I constantly use https://hodlrate.com/ and buy cryptocurrency for my safe and comfortable life.

[superadmin]

I can't entirely agree with this statement because you can't judge economics based only on the last 10 years. The covid 19 speeded up the economy's evolution, and now we see the results of a lack of an economic system; that's why so many problems have appeared in the last two years. Traditional investment can't keep it up now, and people should use something new to stable the situation and develop further. Personally for me, the main reason why I buy bitcoin is the protection of my anonymity. I chose now to be visible, and I want to have this right; that's why I constantly use https://hodlrate.com/ and buy cryptocurrency for my safe and comfortable life.

Hi, opponentm,

Cryptocurrencies have no actual assets backing. They were created for speculations. People are buying and hoping for the price to go up. If the price does not go up, there is zero return from the investment. Unlike stock market, there is dividend if the company we invested is making a profit.

Just my 2 cents..