Bitcoin Price Just Surpassed $15,000 | Mach | NBC News Tech Mirrors
Incoming ten years, Bitcoin is more likely to be $100 than $100,000, Harvard economist says
Harvard University professor and economist, Kenneth Rogoff said on Tuesday that, the possibility of the prices of bitcoin prices falling to $100 is higher than that of the digital currency trading at $100,000 a decade from now.
“I think bitcoin will be worth a tiny fraction of what it is now if we’re headed out ten years from now… I would see $100 as being a lot more likely than $100,000 ten years from now,” Rogoff told CNBC’s “Squawk Box.”
“If you take away the opportunity of money laundering and tax avoidance, its actual uses as a transaction vehicle are minimal,” the former chief economist of the International Monetary Fund (IMF) said.
A lot of illicit transactions have been associated with Bitcoin, estimates of which vary in proportion to the use of digital currency used in illegal activities. According to Shone Anstey, co-founder, and president of Blockchain Intelligence Group computed that the level of unlawful transactions had reduced to 20 percent in 2016 and was “significantly less than that” in 2017.
The regulations introduced by the government will provoke the drop in bitcoin prices said, Rogoff, although he emphasized that it would take time to develop a global framework of regulation.
“It needs to be global regulation. Even if the U.S. cracks down on it and China cracks down, but Japan doesn’t, people will be able to launder money through Japan still,” he said.
According to industry site CoinDesk, Bitcoin traded around $11,242.61 during Tuesday Asia morning trade. The price of digital currency has fallen this year from a record of more than $19,000 in December last year.
Authorities have been behaving passively about regulating bitcoin the reason for which is the anticipation of the technology behind digital currency, according to Rogoff.
“They want to see the technology progress,” Rogoff said, adding that the private sector has historically “designed everything” in the history of currency, from standardized coinage to paper currency.
Bitcoin is a significant area of growth as an application of the blockchain technology that allows transactions to be maintained and recorded.
However, in the past also there have claims about the falling prices of bitcoin. Before bitcoin sold off in December last year, Rogoff told last October that estimates of the digital currency would “collapse” amid attempts by governments to regulate the space.
Bitcoin just hit another milestone in its ascent. From just under $1,000 at the beginning of the year, it crossed the $15,000 threshold for the first time today.
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Bitcoin Price Just Surpassed $15,000 | Mach | NBC News
What is the highest price of Bitcoin so far?
Bitcoin, the world’s first and most-popular cryptocurrency, reached a new all-time high over $68,000 on Nov. 10. Bitcoin’s previous record high came in October, when it nearly hit $67,000.
How much is a Bitcoin worth in 2025?
As projected, Bitcoin will be worth around $140,000 by 2025, but some even see it rising to $280,000.
Why has bitcoin jumped in price?
An increase in the money supply often leads to an increase in prices – this is thought to be one of the main causes of inflation. The price of Bitcoin is thus determined not just by the supply/demand of Bitcoin, but by the supply/demand of Tether used to buy it. The supply of Tether has continually increased over time.
When was Bitcoin worth $1000?
Bitcoin passed US$1,000 on 28 November 2013 at Mt. Gox. No exchanges or market, users were mainly cryptography fans who were sending bitcoins for hobby purposes representing low or no value.
Can Bitcoin reach 100k?
Bitcoin will continue to take market share from gold as part of broader adoption of digital assets, making the often touted price prediction of a $100,000 by advocates a possibility, according to Goldman Sachs Group. Goldman estimates that Bitcoin’s float-adjusted market capitalization is just under $700 billion.
Who owns the most Bitcoin?
With more than 1,000,000 BTC, Nakamoto — who may be an individual or a group — owns more Bitcoin than any other entity. The four remaining billionaires are estimated to hold around 672,000 BTC altogether.
Is it too late to buy into Bitcoin?
It’s Not Too Late: Crypto Is Way Down From Its Recent Highs
If you’re a believer that the crypto market is another version of the stock market, there might be no better time to buy cryptos like Bitcoin because they are currently on sale.
Can ethereum surpass Bitcoin?
Also known as ‘The Flippening’, Ethereum surpassing Bitcoin’s market cap would be a monumental turning point in the cryptocurrency industry. Coin Rivet looks at whether Ethereum can complete the move in 2022 and what would need to happen to make it a reality.
Will Bitcoin crash again?
Nothing, according to the experts we’ve talked to. Given the crypto’s history of volatility, this increase doesn’t guarantee a long-term reversal. Bitcoin’s price is just as likely to fall back down as it is to continue climbing.
When was Bitcoin worth $1?
2011
In February of 2011, BTC reached $1.00, achieving parity with the U.S. dollar for the first time.
What is the next cryptocurrency to explode?
Ethereum is the second-largest cryptocurrency after Bitcoin, and its huge trading volume and market share of slightly above 25 percent as of July 2021 are likely to propel it’s exploding in 2021.
Which crypto will explode in 2021?
Next Cryptos to Explode: Solana (SOL-USD)
Solana is already one of the biggest clear-cut winners of 2021. The SOL coin has boomed; those that bought in in early January at $1.40 are resting on a 13,000% gain at its current price of $183.10.
What will be the price of bitcoin in 2022?
Bitcoin Price Outlook: BTC Could Fall Below $30,000 in 2022, Invesco Says.
