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CryptoOracle cryptocurrency expert Lou Kerner has appeared on the Worldwide Exchange to discuss the latest development in bitcoin value. Mr Kerner said that bitcoin is "the largest store of value ever created and that it should exceed gold over time, but that will not happen overnight". He said: "No one likes to be down this way, but that's part of what's the investment in crypto?
In response, the CNBC host asked, "Why did Bitcoin lose 44% in 12 months? Is it just the people who sell what they can?
"Is it just that inexperienced investors get nervous?
"What do you think is behind this?"
Mr. Kerner replied, "What lies behind the excitement of those who really believe in it? You know, early days thought that it would be a new form of cash payment?
"And because of governance issues related to Bitcoin, it is difficult to evolve.
"But you do not have to evolve to become a better store of value – to be better than gold.
"It's a game of trust; people get angry, people get in advance, people get depressed.
"If you believe in the long term and you stay alive, because of the volatility, over a two-year period, these people have always been rewarded."
The Bitcoin analyst, Dr. Saifedean Ammous, also told Express.co.uk that Bitcoin was allowing the technology to recreate the Gold Standard, which he said was the origin of "the period the most transformative and innovative in the history of humanity since the late eighteenth century and early nineteenth century ".
He said the world has never prospered in the same way since it was operating under the "Gold Standard" standard – during the so-called "Golden Age of Capitalism" – and that Bitcoin will allow us one day to return to "the old version of unmixed capitalism".
The main cryptocurrency currency in the world "will offer people a new form of solid money that can not be inflated," he suggested.
And the "economic reality" of Bitcoin will mean that people will naturally be "forced" to adopt it, in the same way that they have been forced to adopt gold, said the academic.
The price of bitcoins fell to 4245 dollars Friday at 19:35 (GMT), according to CoinDesk. It reached its highest value before Christmas when it reached the monumental price of just under $ 20,000.
The digital currency has, however, been criticized by banks and experts in finance, the governor of the Bank of England, Mark Carney, insisting that it is one of a kind. privilege "to be part of the financial system and that" responsibilities carry these privileges ".
Mr. Carney added, "In my opinion, the best cryptocurrency will attract the best trade if it is regulated. And others will fall on the side of the road.
"At the end of the day, it's not just about market regulation, but also about money laundering, terrorist financing and other illegal activities."
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