div > div.group > p:first-child”>
Nobel Prize-winning economist Robert Shiller is drawing parallels between the world’s leading cryptocurrency and the dinosaurs.
According to the Yale professor, bitcoin could go extinct within the next 100 years.
“Bitcoin won’t look anything like it is today. It will have a different name, if it exists,” Shiller said Tuesday on CNBC’s “Trading Nation.” “There will have been many hard forks changing it and changing it. And, it’ll be a matter of dispute whether it exists or not.”
Even though bitcoin’s potential doomsday may feel ages away, it doesn’t mean the emerging asset won’t continue to struggle.
“The one scenario is that something like what happened after 2013 when bitcoin topped $1,000, and then lost 80 percent of its value. It looked like bitcoin was just fading away,” he added. “It’s so hard to predict these things.”
But what a difference four years makes.
Last December, it hit a record price just shy of $20,000. Weeks later, bitcoin suffered a major blow — sinking to $6,400. It’s now trading in the low $7,000s and is still up 233 percent over the past 12 months.
“It looks like a bubble,” Shiller said.