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Cryptocurrency expert Lou Kerner, of CryptoOracle, appeared on Worldwide Exchange to discuss the latest development of bitcoin value. Mr. Kerner said that bitcoin is the "greatest value ever created and should overtake gold over time but it will not happen overnight." Of the recent dive, he said: "Nobody likes to be down this way, but this is part of what invests in the crypt is everything."
In response, the CNBC host asked: "Why does bitcoin fall by 44% in 12 months? Are they just the people who sell what they can?
"Is it just that they are inexperienced investors who get nervous?
"What do you think behind it?"
Kerner replied: "What's behind is the excitement of people who really believe in this – do you know that people in advance thought it would be a new form of money?
"And because of the problems of governance with Bitcoin, it actually strives to evolve.
"But it does not need to evolve to be a better value deposit – to be better than gold.
"It's a game of trust, people get excited, people overcome themselves, people get depressed.
"If you believe in the long run and if you keep your life dear, because of the volatility, in a period of two years, these people have always been rewarded".
Bitcoin analyst Dr. Saifedean Ammous is also confident and told Express.co.uk that bitcoin allows technology to recreate the Gold Standard, which was responsible for "the most transformative and innovative period in human history from the late 18th and early 19th centuries".
He said the world has never prospered the same way since it operated under the Gold Standard – during the so-called "capitalist gold period" – and bitcoin will allow us one day to return to the "old, unadulterated version" of capitalism ".
The world's leading cryptocurrency "will offer people a new, hard form of money that can not be inflated," he offered.
And the "economic reality" of bitcoins will mean that people will naturally be "forced" to adopt it, in the same way they were forced to adopt gold, the academic outlined.
The price of Bitcoin has dropped to $ 4,245 at 19:35 (GMT) on Friday, according to CoinDesk. He saw its highest value before Christmas when it reached the monumental price of just under $ 20,000.
However, the digital currency had to face criticism from banks and financial experts, with Mark Carney, governor of the Bank of England, who stated that it is a "privilege" to be part of the financial system and that "the responsibilities derive from such privileges ".
Mr. Carney added: "The best of cryptocurrencies, I would suggest, will gravitate on the best of exchanges if they were regulated, and others will fall along the way.
"In the end, it's not just about market regulation, it's about money laundering, terrorism financing, other illegal activities."
