Harvard economist Kenneth Rogoff stated in 2018 that Bitcoin is more likely to drop to $100 than rise to $100,000.

😛His forecast did not come true, however, Rogoff himself admits that he underestimated several factors:

🇺🇸The United States has not developed strict regulations for cryptocurrencies, which allowed them to continue being used for tax evasion and illegal activities.

💸Bitcoin has carved out a niche in the multi-trillion-dollar shadow economy, where demand creates a minimum price.

💰Regulators and politicians themselves have begun holding significant amounts in cryptocurrency, creating a conflict of interest and reducing the likelihood of strict measures.