Distinguished economist Steve Hanke has renewed his criticism of Bitcoin (BTC) because the cryptocurrency continues to plummet.
In keeping with a Dec. 16 X submit, Hanke, a professor of utilized economics at Johns Hopkins College, mentioned Bitcoin's current selloff displays his depiction of the asset as having no elementary worth.
In his view, Bitcoin is a extremely speculative funding that lacks elementary worth, a place he reiterated when the digital asset was buying and selling under $86,000.
This decline is a part of a broader correction, with Bitcoin presently down greater than 30% from its all-time excessive of $126,000, set in October 2025.
Market analysts attributed the decline to a wide range of elements, together with macroeconomic pressures from potential central financial institution rate of interest adjustments, pressured liquidations of greater than $380 million, low vacation buying and selling volumes, and widespread considerations that a synthetic intelligence bubble might weigh on threat belongings.
The Federal Reserve's warning has additional dampened sentiment, elevating considerations that the crypto sector might shrink by $3 trillion if costs proceed to fall into 2026.
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