#MyFirstFeedPost The renowned newspaper Financial Times (FT) has taken a critical look at the recent rise of Bitcoin, comparing it to a “déjà vu” and predicting a possible collapse.
The newspaper notes that Bitcoin has more than doubled in price in 2023, jumping from US$ 15,500 in January to US$ 42,000 in December, with the rise triggering a wave of optimism in the sector and forecasts that the cryptocurrency could surpass US$ 100,000 by the end of 2024 and perhaps reach US$ 750,000 by 2026.
FT, however, expresses skepticism about the sustainability of this rise, arguing that, unlike other assets, Bitcoin lacks intrinsic value and is not backed by any tangible entity.
The newspaper notes that Bitcoin has more than doubled in price in 2023, jumping from US$ 15,500 in January to US$ 42,000 in December, with the rise triggering a wave of optimism in the sector and forecasts that the cryptocurrency could surpass US$ 100,000 by the end of 2024 and perhaps reach US$ 750,000 by 2026.
FT, however, expresses skepticism about the sustainability of this rise, arguing that, unlike other assets, Bitcoin lacks intrinsic value and is not backed by any tangible entity.
