Global Investor, Jim Rogers Predicts BTC To Hit Zero Claiming The Industry Is Just A Bubble
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Jim Rogers, and investment Guru who said that bitcoin was in a bubble as early as 2017, has given speculation on the industry saying that they will all be gone eventually. Speaking in an interview at the end of last week on 19th of June, Rogers said that the world of crypto, including bitcoin, will be in decline eventually and everything will go to 0. He further said:
"Those who use cryptocurrency think they are smarter than their governments. In fact, I think they are correct. But their governments have something that crypto people don't have. That is guns. The reason why I think cryptocurrency will be gone eventually is that it is not based on the armed force of governments' power."
When it comes to the value of many cryptocurrencies, there has been some unproven correlation between the rise and fall. On the 1st of June, the President of the United States, Donald Trump ordered the forced dispersal of numerous peaceful protesters following the death of George Floyd in Minneapolis. After this happened, the price of bitcoin spiked by 8%.
This isn’t the first time that Rogers has commented on the flagship crypto coin. Back in 2017, when bitcoin had its all-time high of $20,000, Rogers said:
”cryptocurrencies didn't even exist a few years ago, but in the blink of an eye they became 100 and 1000 times more valuable. This is a clear bubble and I don't know the right price. Virtual currency is not an investment target. It's just gambling.”