The price of BITCOIN could fall under the warnings of a Nobel laureate expecting a cryptocurrency offensive.
Bitcoin has had a hit with Ripple and Etherum over the last two weeks.
The fear of the government's crackdown on cryptocurrencies has rocked the price of Bitcoin.
Economist Joseph Stiglitz warned that Bitcoin needs to be regulated to stop money laundering.
He said, "We have a good medium of exchange, a dollar, we can change that.
"Why do people want a Bitcoin? For the secret
We have a perfectly good currency, we are moving towards an electronic payment mechanism, I want us to move more towards an electronic payment mechanism, but you do not need Bitcoin for that. "
The economist, who received the Nobel Prize for Economics, told Bloomberg that he wanted to regulate Bitcoin.
He said, "My feeling is that you regulate it so it can not interfere with money laundering.
"There is no demand for Bitcoin, by regulating abuse you will derive it from existence.
"It exists because of its abuses.
Bitcoin saw its highest value before Christmas when it reached the monumental price of just under $ 20,000.
The price of Bitcoin has since fallen, according to CoinDesk on Tuesday, January 23 at 17:25 GMT at 11,142.86 (7,985.48 GBP).
According to CoinDesk Ethereum, it has now risen by one percent to reach 1,013.52 (725.72 GBP) at 17:26 GMT. While Ripple XRP's price has also risen by 3.41 percent to 1.38 at 17:27 (GMT).
Bitcoin's popularity has sparked demand throughout 2017, and has pushed other cryptocurrencies, such as Ripple and Ethereum, to take advantage of the cryptocurrency madness.
BCC, co-founder of BTCC, said Bitcoin could reach more than $ 1 million over the next 20 years.
He said, "Bitcoin, I think it will reach 1 million per Bitcoin, at that time 10,000 will go 100,000, then 200,000, 500,000.
"Half a million, it will be a milestone and eventually it will exceed one million dollars per Bitcoin."
When asked how long it would take, Mr. Lee said, "In 20 years, really in 20 years."
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