"In fact, it is not used much in the legal economy now. Yes, a rich man sells it to another rich man, but this is not the end use. Without these uses, it has no long-term future. ," Rogoff said. In other words, Bitcoin currently exists almost exclusively as a speculative tool.
Well bitcoin has evolved in the last couple of years, yes, I do agree that it has become a speculative tool, but there are still people around who treated it as a money and uses it for micro payments.
So, is the Bitcoin bubble about to burst?
Last time yes, 2017, the bubble has been pop, but it's cyclical, so maybe this year we might see it bubble again or not as bitcoin narrative has completely made a U-turn, store of value and hedge by bigger companies.