According to a recent write-up published by Panos Mourdoukoutas, Professor and Chair of the Department of Economics at LIU Post in New York who is also contributing to several professional journals and magazines, such as Forbes and The New York Times, until its dive, bitcoin will make many more people millionaires.
Bitcoin hit $3,000 this month after a big correction down to $2,682 from $2,957 in the period of two days. CCN reported that billionaire Mark Cuban was calling bitcoin’s recent price surge a bubble. However, this is not the case since the cryptocurrency is showing an uptrend, recently standing on $2,831 and continuously going upwards.
Mourdoukoutas shared a partly similar opinion to Cuban’s. Matching in the terms of saying that bitcoin’s price will drop after the huge surge, however, the university professor did not state that the cryptocurrency is a bubble. Mourdoukoutas added that the digital currency made many “overnight millionaires” – people who invested into BTC when it was worth only a fraction of its current price. He added that bitcoin will reach new highs, making more billionaires in the course of the action, before “coming back down to earth”.
Read more here: http://www.altcointoday.com/bitcoin-will-make-a-lot-of-new-millionaires/
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Most of these economics professors are against free markets they are for a soviet style central Kenzian economics I wouldn't trust what they say.
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Going to be a crazy time i think!
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Another interesting post but will not be me! X
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Bitcoin's price is high and the reason is absolute speculation. Without this much speculation, it would never have been rise this much . And if this speculation continues, Bitcoin will surely fall below $2000 for sure.
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I guess you have to spread your capital over several tokens with a good idea/execution behind it. If one of them wins, you could win big time even if the others are forgotten in the long run.
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