Harvard economist Kenneth Rogoff confesses to misjudgment: his prediction of a Bitcoin crash on $ 100 was based on three serious miscalculations for adoption.

Harvard economist Kenneth Rogoff confesses to misjudgment: his prediction of a Bitcoin crash on $ 100 was based on three serious miscalculations for adoption.

Kenneth Rogoff admits errors in Bitcoin forecast

The Harvard economist Kenneth Rogoff recently admitted that its forecast of a dramatic decline in the Bitcoin course did not apply by $ 100. In his analysis, Rogoff recognizes three essential miscalculations regarding the acceptance of Bitcoin, which have contributed to his erroneous prediction.

The first miscalculation concerned the speed of global acceptance of cryptocurrencies. Rogoff had assumed that the introduction and use of Bitcoin would progress more slowly than was actually the case. In recent years, the number of Bitcoin users and acceptance among retailers and companies has increased significantly.

Another aspect that Rogoff misjudged was the regulatory environment. He assumed that state regulations and bans of cryptocurrency would fully counteract. Instead, many countries have started to integrate cryptocurrencies to create market transparency and use the potential for economic growth.

Finally, Rogoff realized that technological development and support from large investors play a crucial role. The continuous improvements in blockchain technology and the interest of institutional investors have strengthened the stability and value of Bitcoin, which he did not take into account in his calculations.

Rogoff's admission underlines the uncertainties and challenges in predicting cryptocurrencies and their market development. The acceptance of Bitcoin shows that despite critical voices, interest in digital currencies remains and could even increase.