Login to your account

Username *
Password *
Remember Me

Create an account

Fields marked with an asterisk (*) are required.
Name *
Username *
Password *
Verify password *
Email *
Verify email *
Captcha *
Reload Captcha

Jim Rogers (Global Investor) predicts BTC will be worth nothing 'the industry is just a bubble'

Written by  Jun 27, 2020

Jim Rogers the global investor 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 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."

bit alt tokenAlso see: The difference between Bitcoin, Altcoins and Tokens

When it comes to the value of many cryptocurrencies, there has been some unproven correlation between the rise and fall. On the 1st June, 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%.

Advertisement

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.”

If you are new to the Cryptocurrency world and would like to open an account we recommend Cex.io.

Quite a controversial opinion, do you agree? Comment below or follow us on Facebook or Twitter.

Disclaimer. This analysis and forecast are the personal opinions of the author that are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by Cryptosavvy.co.uk. Readers should do their own research before investing funds.

Peter Flynn

Senior Editor and self confessed Crypto addict, bringing a variety of Crypto tech news, help and advice in the UK. I have worked in various fields throughout my career such as a Systems Administrator, Cyber Security Consultant and other technical related roles, these days I concentrate on Cryptocurrency journalism and technical writing.

Leave a comment

Make sure you enter all the required information, indicated by an asterisk (*). HTML code is not allowed.

Follow Us

Advertisement

Bitcoin Price

Popular in Bitcoin

Jun 15, 2020

Bitcoin price is recovering well

Bitcoin price closed its weekly candle at roughly $9,325 and dipped to £8900 very briefly.

Jan 24, 2020

What is Bitcoin?

Bitcoin is a cryptocurrency created back in 2009. Marketplaces called “bitcoin exchanges” allow people to buy or sel...

Jun 23, 2020

PayPal and bitcoin to collaborate

The hot news today is from PayPal, the well-known payments company, is getting ready to introduce a cryptocurrency buyin...

May 07, 2020

Bitcoin tries to go above $9,300 but is expected to go down

The Bitcoin price has broken out from a short-term descending resistance line but still has yet to move above its 30th A...

May 14, 2020

Bitcoin transaction fees are rising

Bitcoin is seeing an uptick in transaction fees in the past few weeks, now on similar levels to fees during the summer o...

May 16, 2020

The environmental concerns of Bitcoin mining

Following bitcoins rise two years ago in 2017 to highs of $20k+, the question was asked on whether the leading cryptocur...

May 14, 2020

Recent proof that Bitcoin is better than Gold

The Bitcoin market is moving upwards once again. The cryptocurrency has seen its price rise by more than 150 percent fro...

Jun 17, 2020

More than 8000 Bitcoin ATMs now installed worldwide

There are now 8000 bitcoin ATMs have been installed on a global scale.

May 28, 2020

Bitcoin Price: Falling wedge breakout leaves $9,500 achievable

Bitcoin price spiked on Wednesday following a recent dip from highs above $9,500 to levels slightly above $8,600. ...