Ex-chief economist of the IMF: in ten years bitcoin price will fall to $100

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2018-03-07
Ex-chief economist of the IMF: in ten years bitcoin price will fall to $100

Professor of Harvard and the former chief economist of the International Monetary Fund (IMF) Kenneth Rogoff said that with a high probability the price of bitcoin will fall to $100 within the next decade.

“I consider that the bitcoin will cost only a little bit of its present price if we look for ten years ahead. By then the sum of $100 is much more probable, than $100 000.”

— Rogoff noted.

According to him, the bitcoin isn’t really useful as a method of payment — the first cryptocurrency has not so many variations of being used, except for evasion from taxes and money laundering. Besides, in October of the last year the economist said to the The Guardian edition that the price of bitcoin would fall even in case its fundamental technology thrived.

Rogoff partly explains his forecasts with the fact that the governments of different countries won’t allow the decentralized or anonymous digital money to force out the state currencies completely.

At the same time Rogoff noted that he himself supported the international regulation of cryptocurrencies, but not their ban.

“Global regulations are extremely necessary now. Even if the USA and China undertake cryptocurrencies, and Japan don’t, people will still continue to launder money through Japan.”

— Rogoff added.

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