RATE Group | Bitcoin will live — but it isn’t done bleeding
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Bitcoin will live — but it isn’t done bleeding

04 Dec Bitcoin will live — but it isn’t done bleeding

Posted at 08:10h in Bitcoin News by

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Bitcoin took a beating in 2018. But it’s probably not dead.

The digital currency deflated after making millionaires of early adopters. The pain isn’t over, experts say, predicting bitcoin may sink another 75 percent — though they defend the pioneering token’s long-term viability.

A single bitcoin is worth slightly more than $4,000, and academics believe it could sink to $1,000. Federal investigators are probing whether fraud fueled a bubble, and some investors are clamoring for regulation.

“Over the last year, bitcoin has traded like a high-risk, high-return asset class,” said Lamont Black, a former economist at the Federal Reserve Board of Governors and a finance professor at DePaul University.

“Investors drove up the price of bitcoin [in 2017] based on speculation of future returns. Now bitcoin has returned closer to historic levels,” Black said. “The price of bitcoin in early 2017 was only $1,000. I…

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