In a mid-term report on the economic outlook, the bank says the Bitcoin price is likely to fall further than the first 7 months of 2018.
"Our opinion is that the cryptocurrencies will not keep its current value," said Sharmin Mossavar-Rahamani.
"We expect declines in the future, as our view is that the cryptocurrencies do not perform any of the traditional roles of a single currency."
Digital currencies, and in particular the blockchain technology that forms the basis of the distribution nature of this type of asset, have been declared to be destructive to the global financial system.
"It is important to continue to believe that such downturns will not negatively affect the effectiveness of wider financial assets, since cryptocurrencies represent only 0.3% of global GDP.
Source: Business Insider
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