American scientists have warned that Bitcoin could "disappear in the near future".

“Bitcoin itself doesn't last that long and will be gone in the future,” Eswar Prasad, an international trade law expert at Cornell University, told CNBC's “Squawk Box Europe” program before this month.

The price of Bitcoin has become a major exchange in recent years, the price of Bitcoin has fallen from around US $ 58,000 to less than US $ 48,000 last month.

There were a handful of cryptocurrencies in the past, but today there are hundreds, some of which are more efficient and secure than Bitcoin.

Although many are speculating on the future of Bitcoin, an analyst warns that Bitcoin, the world's favorite cryptocurrency, could be phased out in the near future.

“Bitcoin itself won't last long,” Eswar Prasad, senior professor of international business law at Cornell University, told CNBC's “Squawk Box Europe” program earlier this month.

The price of Bitcoin has become a major exchange in recent years, the price of Bitcoin has fallen from around US $ 58,000 to less than US $ 46,000 last month. As of Friday at 10:15 a.m. EST, the price of Bitcoin was $ 45,637.

There were a handful of cryptocurrencies in the past, but today there are hundreds, some of which are more efficient and secure than Bitcoin.

Blockchain is the technological basis of most cryptocurrencies. Importantly, it is a list of numbers of virtual resources spread over a global computer network.

“The Future of Money: How the Digital Revolution Transfers Money and Finance,” said Prasad, “Bitcoin's use of blockchain technology is not good. "

He described cryptocurrencies as "bad for the environment" and "dangerous". In fact, Bitcoin's carbon footprint is larger than that of New Zealand as a whole.

Prasad says that some new cryptocurrencies use more blockchain technology than Bitcoin.

It is believed that blockchain technology will "transform" the way financial operations and day-to-day businesses (like buying a home or buying a car) do.

“Because Bitcoin is not a very good medium of exchange, I don't think it's worth investing other than the value induced by the trust of traders,” said Prasad.

According to Prasad, cryptocurrencies "set midsize banks on fire and will often make bankers decide to provide digital models of their own profits."

He added that these digital perks can be beneficial as they can improve accounting and financial security capabilities by providing cheaper payment options for everyone.

“You might not like Bitcoin,” said Prasad, “but it would lead to a change that would benefit us all, directly or indirectly.”