Investor and financial author Harry Dent has issued a massive warning about both cryptocurrencies and the stock market.
In a new interview with The David Lin Report, Dent says the next crash will devastate Bitcoin and stock investors, paving the way for BTC’s emergence as the future of the global economy.
dent To tell The next crash will likely happen by July, and its impact on Bitcoin will be similar to Amazon’s dotcom crash in the early days of the internet. And once the smoke clears, Dent believes BTC will rise like a phoenix.
“[After the crash]people will say Bitcoin was complete BS. It was just a big hoax.
No, that’s exactly what Amazon and dotcom did. [The crash] The size of this bubble, this crypto bubble, further proves that this is no joke. This is the next big thing that happens. It perfectly reflects and reflects the.com bubble…
Crashes should be as bad as 95% to 96% and this is how Amazon and dotcom went down. After that, Bitcoin will have a big boom over the next few decades. “
According to Dent, Bitcoin’s rise to a record high of around $69,000 in 2021 is just the beginning, and that future will be fueled by the rise of millennials.
“This is just a longer booming baby bubble that won’t peak until the 2030s, when the US millennial spending cycle peaks.
and it’s not [just] Bitcoin. Bitcoin is kind of the lead dog here. Blockchain is the way to reinvent all financial services. This is fundamentally a revolution, especially in financial services… this is a wealth revolution. This is the revolution in financial services introduced by blockchain technology. “
As for when Dent’s predictions will come true, he says the next crash will happen by July.
He is also bullish on Ethereum and its utility, but says Bitcoin has already beaten gold and Bitcoin’s size and brand recognition will ensure it remains the market leader. increase.
“I believe Bitcoin will become the standard for the digital world economy. Gold in the past was this currency standard in a more material, less information intensive economy. Gold is not the standard. is not.
Bitcoin is the new economy and big enough to be the norm, which is why I think it will survive.
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