The economist and professor at the City University of New York believes that Bitcoin and altcoin prices will fall further in the short term. Angel Banchs, economist and former visiting professor at the New School (NY), talked about what the price of BTC and other cryptocurrencies will be in the short term and long term. Detail cryptocoin.com‘in.
Bitcoin could drop further
The professor also stated that cryptocurrencies could disappear. The economist said, “I would like to clarify my estimate. I argue that BTC and cryptos will fall more in the short term, which has already started to happen, they will disappear in the medium term.” Angel Banchs has taught at different universities. Today, he owns the finance blog where he teaches online lectures and also teaches about Bitcoin. The professor has a blog where he lectures on economics and politics, some of which are about Bitcoin. According to him, BTC could reach zero, but the same will never happen with fiat money. If demand for bitcoin drops to zero, the price goes with it.
He claims that the state is important and that fiat money can only be controlled by the government to maintain its value and protect it from fraud or crime. In other lectures, he argues that Bitcoin is not a “hedge” against inflation because it does not act as a hedge against inflation due to the volatility of the digital asset. BTC supporters, on the other hand, believe that Bitcoin is a free, transparent and limited-supply digital currency that is open to all. Despite its volatility, Bitcoin has gained in value over time. Today it is seen as a store of value not only by ordinary people, but also by companies and governments. Finally, Bitcoin is still little used as a currency or store of value compared to currency. But those who understand the basics of digital presence know that they need it more for freedom.
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