Professor of Finance at Heider College of Business Robert R. Johnson is in our crypto news today for his multiple predictions about the crypto market after saying that the Bitcoin price will ‘’continue to tumble in 2019.’’
He continued on saying:
‘’The simple truth is that there are virtually no investment strategies that are worse ideas than cryptocurrencies. “Investing” in bitcoin and other cryptocurrencies is pure, unadulterated speculation. I put investing in parentheses because this is not investing, it is speculating. Cryptocurrencies are the “Tulipmania” of the 21st century.’’
Other crypto influencers such as Ken Bodnar who is a part of Dr. Richard Rahn’s economist team, wants to help evolve the crypto from where it is and he also predicted that this year will lead bitcoin to drop lower than $4,000.
He also pointed out that bitcoin will eventually drop to a price that will be too expensive to mine because the energy costs will be extremely high.
For example, Josh Boram who is the owner of AntminerProfitability.com has been following how the mining stats develop and he is not very optimistic about the entire mining process but also not very optimistic for bitcoin as well.
Another crypto expert Drew Farnsworth, Partner at Green Lane Design says that unless people use cryptocurrency, the value will drop:
‘’Crypto really is worthless unless it is used. Bitcoin’s main draw is the size of the network… Without effective payment processing, Bitcoin will drop under $1,000 before EOY 2019.’’
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