Many Russian experts are skeptical about the long-term prospects of the largest cryptocurrency. For example, Mikhail Dorofeev, an associate professor at the Department of Public Finance at the Financial University under the Government of the Russian Federation, said last summer that Bitcoin would most likely collapse to $10,000.
The Federation Council recently pointed out the harm that BTC causes to the traditional financial system.
Candidate of Economic Sciences Mikhail Belyaev also poorly assesses the possibilities of cryptocurrency. He believes that Bitcoin will not be able to repeat the run of two years ago and exceed $60,000.
The expert called BTC a speculative instrument that increases in value only due to the pumping caused by the flow of news.
In his opinion, the cryptocurrency will soon fall to $25,000 or even $20,000.
The economist said:
It [bitcoin] has such a property that as soon as it starts to grow, there are immediately hunters who buy it and provoke an upward movement. An increased demand is created, which increases on its own.
