“I Was Wrong To Predict Bitcoin Would Crash”: Harvard Economist Says
The post “I Was Wrong To Predict Bitcoin Would Crash”: Harvard Economist Says appeared on BitcoinEthereumNews.com. Harvard economist Kenneth Rogoff admits he was wrong about Bitcoin, which broke $124,000 after he predicted it would crash to $100. Seven years ago, in 2018, Harvard economist Kenneth Rogoff said Bitcoin was far more likely to crash to $100 than ever reach $100,000. At the time of writing, Bitcoin has crossed the $100,000 price level and has even hit $124,000.. The cryptocurrency not only survived the scepticism over the years, but it has also cemented itself as one of the world’s largest assets. Rogoff has now admitted that his prediction was wrong in a post on X. He explained that he underestimated three factors, including regulation, competition with fiat currencies, and the willingness of regulators to hold crypto themselves. Why Kenneth Rogoff Thought Bitcoin Would Fail At the time of Rogoff’s prediction, Bitcoin was trading around $11,000 after falling from its previous high of $20,000. Rogoff believed that stricter U.S. regulation would drive the price down further. He even argued that Bitcoin had no value beyond its use in money laundering and tax evasion. Almost a decade ago I was the Harvard economist that said that bitcoin was more likely to be worth $100 than 100k. What did I miss? I was far too optimistic about the US coming to its senses about sensible cryptocurrency regulation; why would policymakers want to facilitate tax… — Kenneth S Rogoff (@krogoff) August 19, 2025 Soon after Rogoff’s prediction, Bitcoin collapsed to $3,000, and the drop seemed to confirm his view. Rogoff, who is a former chief economist at the International Monetary Fund and author of several books on finance, stood firm in his warning. For years, he even repeated that governments would not allow Bitcoin to grow unchecked. Bitcoin’s Rise Above $124,000 That prediction fell apart when Bitcoin hit $124,400 in…
The post “I Was Wrong To Predict Bitcoin Would Crash”: Harvard Economist Says appeared on BitcoinEthereumNews.com.
Harvard economist Kenneth Rogoff admits he was wrong about Bitcoin, which broke $124,000 after he predicted it would crash to $100. Seven years ago, in 2018, Harvard economist Kenneth Rogoff said Bitcoin was far more likely to crash to $100 than ever reach $100,000. At the time of writing, Bitcoin has crossed the $100,000 price level and has even hit $124,000.. The cryptocurrency not only survived the scepticism over the years, but it has also cemented itself as one of the world’s largest assets. Rogoff has now admitted that his prediction was wrong in a post on X. He explained that he underestimated three factors, including regulation, competition with fiat currencies, and the willingness of regulators to hold crypto themselves. Why Kenneth Rogoff Thought Bitcoin Would Fail At the time of Rogoff’s prediction, Bitcoin was trading around $11,000 after falling from its previous high of $20,000. Rogoff believed that stricter U.S. regulation would drive the price down further. He even argued that Bitcoin had no value beyond its use in money laundering and tax evasion. Almost a decade ago I was the Harvard economist that said that bitcoin was more likely to be worth $100 than 100k. What did I miss? I was far too optimistic about the US coming to its senses about sensible cryptocurrency regulation; why would policymakers want to facilitate tax… — Kenneth S Rogoff (@krogoff) August 19, 2025 Soon after Rogoff’s prediction, Bitcoin collapsed to $3,000, and the drop seemed to confirm his view. Rogoff, who is a former chief economist at the International Monetary Fund and author of several books on finance, stood firm in his warning. For years, he even repeated that governments would not allow Bitcoin to grow unchecked. Bitcoin’s Rise Above $124,000 That prediction fell apart when Bitcoin hit $124,400 in…
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