Bitcoin has been having a rollercoaster ride for past two months now. No one is exactly knowing where it is headed. The currently ongoing World Economic Forum (WEF) is so far giving negative feedback as famous economist, including Joseph Stilgitz, claim that fiat currency is better than Bitcoin.
The professor and Nobel prize winner addressed the forum at Davos, Switzerland and stated that cracking down it suse case will “regulate it out of existence.”
Stilgitz was joined by Swiss National Bank chairman Thomas Jordan , who said,
“There is an important principle: Similar activities should be similarly regulated, and Bitcoin and other cryptocurrencies have some characteristics of other investment instruments. You can’t, on the one hand, heavily restrict cash and on the other hand permit fully anonymous instruments that to a great extent can be used for all manner of transactions.”
As cryptocurrency market continues to spiral its way through this month,. Bitcoin price forecasts have become very down to earth, making many experts take back seat.