Unnatural Bitcoin Price Growth Cannot Be Sustained Indefinitely
Bitcoin is still undervalued by quite a margin, but we should not run the marathon before we can take our first steps either. There are a lot of eyeballs on the Bitcoin price right now, as the value continues to climb up on a daily basis. However, a lot of people are well aware this trend is not likely to continue forever, and there are some signs of resistance along the way. Moreover, no one is certain where this sudden demand is coming from, albeit there are plenty of reasons as to why this could be the case. A Bitcoin price increase is always a joyous occasion for cryptocurrency....
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Several Indian bitcoin exchanges have pulled the plug and halted trading following a statement issued by the Reserve Bank of India (RBI) on Tuesday. The RBI warning advised consumers and investors to steer clear of bitcoin, citing numerous risks associated with digital currencies. The list of concerns outlined by the RBI was more or less standard - lack of regulation, security issues, rampant speculation and volatility. The RBI also pointed out that Indian bitcoin exchanges are operating without regulatory approval, which is hardly surprising given the fact that India does not have a....
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As the Bitcoin network replaces our current financial system and becomes the unit of account for the world, everything else will fall in price indefinitely.
Nobel Prize-winning economist Paul Krugman says he has given up predicting the imminent demise of bitcoin. The economist now suggests thinking of the cryptocurrency “as a cult that can survive indefinitely.” Nonetheless, Krugman still believes that bitcoin has no fundamentals. Paul Krugman Likens Bitcoin to a Cult That Can Survive Indefinitely Nobel laureate Paul Krugman said on Twitter last week that he has given up on predicting bitcoin’s demise. Krugman won The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel in 2008 “for his analysis of....