Due to the lack of fundamental economic factors in the formation of the value of the cryptocurrency, the price of bitcoin with a high degree of probability will drop to zero. This is the leading economist of Vanguard Joe Davis wrote in the column for the portal ETF.com

https://akbk.ru/wp-content/uploads/2018/02/bitcoin-falls.jpg

He pointed out that cryptocurrencies cannot have viable applications. Thus, it cannot be perceived as a form of money, as it is not an effective means of accumulation.

# "Unlike stocks and bonds, cryptocurrencies do not cause cash movements such as interest payments or dividends. And if the price of national currencies is determined by the underlying economic activity of the countries issuing them, then the price of cryptocurrencies is based exclusively on speculation," Joe Davis said.

The economist urged investors to refrain from investing in bitcoin, so as not to limit access to "proven and true asset classes".

# "The acceleration of innovation and growth of competition, most networks and related cryptocurrencies can lose its relevance and, like the Tulip bulbs in seventeenth century Holland, to rise to unprecedented heights before the speculative bubble will burst," — he wrote.

At the same time, Davis noted that the company Vanguard, which manages assets of $5.1 trillion, already uses blockchain technology and treats it with great enthusiasm.

Earlier, in may, CoinShares CEO Danny masters said that bitcoin will not be able to beat the historical highs until it changes its structure.



<h2><b><center> Trade your cryptocurrency here </center></b>
<center><a href="https://www.binance.com/?ref=21509226" rel="nofollow noopener" title="This link will take you away from steemit.com to BINANCE"><img src="https://steemitimages.com/DQmS8Y5PoVJenL4Qo3WhRg1YWJ9VGcQRhFKQNx8BLePx3iZ/image.png"></a></center>

![line steemit.png](https://steemitimages.com/DQmc2H3Lgvc1aWLMBBeokhh3AkjrLpjDqsB49SqVYB7nXAy/line%20steemit.png)

<h2><center><b>If you liked my post please upvote & follow me.</b></center><center><a href="https://steemit.com/@bizon18"><img src="https://steemitimages.com/0x0/https://steemitimages.com/DQmTiCwPX5Eh6J9TrHZ9Aki1E8u7jM6gc2LqvycQ91JFrjQ/U5dt42G4xW1EyBKDCHWEBSZLxMxDnZk.gif" alt="U5dt42G4xW1EyBKDCHWEBSZLxMxDnZk.gif"></a></center>![vote for me.png](https://steemitimages.com/DQmfBdKVCAkWYRLvXc4CwGkb3BnQULBHZU27LRJFcXnXPWE/vote%20for%20me.png)

<center>![bitcoin spin.gif](https://steemitimages.com/DQmT1mdH4WiFZj1ipvLRqEPJ118ExJuiR91v5QW493up5Fg/bitcoin%20spin.gif)</center>