Bitcoin is Pure Speculation, Says Robert R. Johnson

Dec 31, 2018 at 14:29 Update Date :Dec 31, 2018 at 14:29 UTC

Most of the people are believing that 2019 will be a great year for Bitcoin and other cryptocurrencies. But if we believe these experts, developers, miners, finance professors, and economists, cryptocurrencies will soon become like black and white TV. Check out what the experts are saying about digital assets.

Ken Bodnar, Blockchain Influencer

Ken is a blockchain and tokenization influencer on LinkedIn. From last year, Ken is consistently predicting the price of Bitcoin will drop to $4,000 or lower level. Now he is predicting that in near future Bitcoin will touch the level of $2,000 and eventually it will drop to a level where Bitcoin mining will become unfeasible because of high energy costs.

Robert R. Johnson, Professor at Creighton University

According to the professor of Finance at Heider College of Business, Creighton University, Robert R. Johnson cryptocurrencies are the worst investment strategies. Investing in Bitcoin and other digital assets is pure speculation. He believes Bitcoin price will continue to tumble in the coming year. Johnson is a Ph.D., CAIA, and CFA. He is also the chairman and Chief Executive Officer (CEO) of Economic Index Associates. John has written several books including The Tools and Techniques of Investment Planning, Strategic Value Investing, Investment Banking for Dummies, and Invest with Fed.

John believes that Bitcoin and other cryptocurrencies are the speculative assets which do not have any underlying value. According to John, the current Bitcoin price is highest and in near future, it will go below $1,000. He said that

“The fools that currently own it are having a difficult time trying to find greater fools who will take it off their hands.”

He further added:

“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.”

Josh Boram, Owner of AntminerPofitability.com, is tracking mining data for mining hardware. He believes that Bitcoin has a lot of potentials but the future of Bitcoin is not rosy. In near future, Bitcoin will remain volatile and the mining aspect will also affect Bitcoin as the profitability in mining has gone down significantly and it will continue to decrease in coming years.

The future of cryptocurrencies is uncertain. Though the price of Bitcoin has risen but we have to see whether it will be able to hold that price or not.

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