Yukio Noguchi, a famous Japanese economist argues we can’t expect Bitcoin price to rapidly surge again. He believes that because it’s now possible to trade on Bitcoin.
He says that because the price of bitcoin has gone down, the costs of sending bitcoin are now back to a level that makes it cheaper than doing bank transactions and this is welcome, according to the news.bitcoin.com.
Bitcoin prices were a bubble, to begin with, and now we’re seeing a return to normal values. The San Francisco Federal Bank, in a report, also suggested that the introduction of Bitcoin futures trading caused a price drop – wrote Noguchi in his book “An Introduction To Bitcoin And Blockchain”.
Noguchi insists that actually, the majority of investors are predicting that prices of bitcoin will continue to fall, especially when some are able to make money from short-selling the cryptocurrency. He also feels that allowing cryptocurrency to branch off, it makes people feel like they can get new cryptocurrency for free and that also drives down the price.