The cryptocurrency market has been constantly oscillating between the highs and lows, proving that the value of Bitcoin [BTC] is directly proportional to the market value.
Robert Shiller, the famous economist, and Nobel prize winner was present at CNBC’s Trading Nation recently.
Shiller is quite popular among the cryptocurrency community for his negative comments on Bitcoin and other cryptocurrencies. In one of his recent interviews, he mentioned that Bitcoin is an example of faddish human behavior.
Shiller, who is also an Economics Professor at Yale University thinks that Bitcoin will face extinction in the next 100 years. He says that Bitcoin would not look like anything that it is today if it exists and it would probably have a different name.
Considering the many hard forks it undergoes very often which leads to the constant change of the coin, it will be just a matter of dispute whether it exists or not.
He continued to say that he does not want to be dismissive about Bitcoin, however, considering its previous behavior, it is very hard to predict about the cryptocurrency.
“It looks like a bubble, but it is getting people enthusiastic and there are a thousands of cryptocurrencies. Something good might come out of this.”
He also mentioned that most of his students are interested in Bitcoin and its trading. The Cryptocurrency community reacted to Shiller’s comment on the future of Bitcoin with multiple opinions.
A Cryptocurrency enthusiast says:
“You literally won’t be able to see this happen so why care ? It’s not like we cared about the extinction of carrying pigeons we literally find better things and moved on. #trash just like your show”
A Twitterati named Crypto Shoppe says:
“BTC’s lack of recent innovation with cause it’s doom. While BCH, ETH, and EOS are gearing up for major innovation.”
Phil Geiger, a Bitcoin enthusiast, and Economics student says:
“Counterpoint: Bitcoin will be the global currency by 2118. 10 years ago money creation was limited to the state and Bitcoin didn’t exist. It has crashed to $7,000 a coin in 9.5 years and adoption is increasing. Forking is becoming less profitable as people discover the truth.”
Tom L, another Twitterati says:
“5 years from now bitcoin will be worthless”
A Bitcoin proponent named BTC Hoarder said on Twitter:
“That’s why he will continue to work while many of us will be millionaires or are already!”
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