Harvard Economist Rogoff Recalibrates Bitcoin Prediction, Spotlights Regulatory Impact

Harvard economist Kenneth Rogoff has revised his 2018 Bitcoin prediction, admitting he underestimated the cryptocurrency’s potential due to underestimating regulatory actions and illicit activity. His original forecast of a $100 valuation for Bitcoin proved incorrect as the asset recently hit new highs exceeding $124,000. Rogoff acknowledged his oversight regarding regulatory inaction and the emergence of Bitcoin’s use in illegal activities like tax evasion. 2018’s prediction reflects a shift in market perception with increased interest from institutional investors and corporations, contributing to Bitcoin’s unprecedented surge.