Bitcoin 'may not last that much longer,' academic warns

[Holladayo]

The 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.

 

[zacharias210]

I think that inflation being out of control will continue to inflate crypto prices. In general the price of all coins are directly related to the power of Bitcoin. As long as Bitcoin is seen as valuable, new coins will be able to find an investor. Much like bagholders in stocks there will be investors "stuck" in these coins when they buy at too high of a price. This allows for regular losers and winners to fuel stories for new investors to be born with a desire to become the next winner. Hopefully economies rebound soon allowing for a stabilization of consumer goods.

 

[Victorial]

I read a similar update some hours ago and I can't help but wonder if it could be true. The future of Bitcoin is uncertain truly but crashing down soon is somehow something I do not think can happen. The price of BTC has fallen massively in the past few months and this also affected other coins by margins. It was attributed to the new COVID-19 virus

 

[Sotherefore]

Well we may not just conclude that bitcoins can just fade away just like that without any a reason , before bitcoins cease and is out of existence there is another new technology that is coming over to take it's place, the reason why most people are investing in cryptocurrency is because of the high volatility which can make a lot of people to gain interest depending on the type of cryptocurrency they are investing on, if there is a technology that is ready to overtake the place of cryptocurrency then obviously we may believe that cryptocurrency may not be available in the nearest future but if no technology exists then How possible will this be ? The only reason I believe that cryptocurrency may not exist again is only when all the world government has decided to ban cryptocurrency and consider it as an illegal activities that is when I can believe that cryptocurrency it may not able to exist in the nearest future ,but if there is nothing that is affecting the price and movement of cryptocurrency except it's normal volatility then the possibility of cryptocurrency continuing to increase in value will still be available even in the next few years.

 

[sincerem]

I wouldn't have such kind of clue to say Bitcoin may not part longer, it has already lasted 14 years and still counting. The likes of microstrategy, Robinhood, and Tesla etc, invested into the coin with hefty amount of money believing in the future of the coin. If they never believed in what the coin can offer, they wouldn't have invested such kind if amount which they invested in the coin. Even up to this day microstrategy company is still investing above $50 million around BTC, because the company executives believes in the future of BTC, and what the coin can offer in the future. The CEO of microstrategy have said many times that his company will keep on investing around Bitcoin to protect the funds from inflation in case it occurs in the future. They simply planned ahead of time, to protect their monetary asset from devaluation in case of inflation. If they don't believe in the future, or see reasons why Bitcoin wouldn't last, they wouldn't have coughed out hefty amount of money to invest in the coin full-time over long period of time and never touched their investment ever since they started investing the funds around BTC.