Opinions on the Bitcoin price are very different in nature. Some people expect six-digit figures by 2020, whereas others expect a major decline in value. Harvard economist Kenneth Rogoff is convinced the BTC value will head to $100 soon enough.Kenneth Rogoff is at it Again
Most people in the cryptocurrency world are familiar with Kenneth Rogoff. He has made some interesting Bitcoin price predictions over the years. The Harvard economist is convinced cryptocurrencies will not succeed. In fact, he regularly states how these markets will eventually collapse when common sense returns to this industry. Only time will tell if those concerns will effectively become a factor in the future.
According to the Harvard economist, Bitcoin will hit $100 in the near future. It is a “greater chance than it hitting $100,000 a decade from now”, according to Rogoff. That is a remarkable statement, albeit he has some good reasons for making this prediction. Once money laundering and tax evasion are removed from the equation, the use cases for Bitcoin are pretty minimal. The Harvard economist mainly sees BTC as a tool for criminal activity, a sentiment shared by most governments around the world today.
Recent research by Blockchain Intelligence Group shows Bitcoin is used far less in the illegal circuit right now. It still accounts for nearly one in five transactions, though. Even so, it shows criminals are flocking to other solutions in this regard. Whether this means they use altcoins or traditional financial solutions, remains unknown at this point. It seems the Harvard economist has not taken this research into account before making this $100 price prediction.Government Regulation is a Non-factor
No one can deny more governments are looking to regulate cryptocurrency. Doing so successfully will be a challenge. The decentralized nature of cryptocurrencies makes it virtually impossible to apply traditional regulation. Harvard economist Kenneth Rogoff thinks government regulation will crash the Bitcoin price. He does acknowledge this degree of regulation will take a fair amount of time to come to fruition.