Incoming shocking Bitcoin and stock crash – before BTC becomes the future of global economy: Harry Dent
Investor and financial writer Harry Dent just issued a massive warning about both crypto and the stock market.
In a new interview on the David Lin Report, Dent says that an incoming crash will devastate Bitcoin and equity investors – and clear the way for BTC’s emergence as the future of the global economy.
Dent says the coming crash will likely happen by July, and its impact on Bitcoin will mirror the dot-com crash of Amazon in the early days of the internet. And when the smoke clears, Dent believes BTC will rise like a phoenix.
“[After the crash], people will say that Bitcoin was just total BS. It was just a big hoax.
No – that’s exactly what Amazon and the dot-coms did. [The crash] will even prove to me more that this bubble – the size of this crypto bubble – says this is not a joke. This is the next big thing to happen. It mirrors and reflects the.com bubble perfectly…
The crash should be just as bad, 95% to 96%, which is how Amazon and the dot-coms went down. And then Bitcoin will have a big boom for decades to come.”
According to Dent, Bitcoin’s 2021 rise to an all-time high of around $69,000 was just the beginning, and the future will be driven by the rise of Millennials.
“This is just the baby bubble of a longer boom that won’t peak until the 2030s, when US Millennials peak their spending cycle…
And it isn’t [just] Bitcoin. Bitcoin is just kind of the lead dog here. Blockchain is a way to reconstruct all financial services. It’s basically a revolution, especially in financial services … this is a wealth revolution. This is a revolution in financial services that is being ushered in by blockchain technology.”
As for when Dent’s prediction will come true, he says the coming crash will happen by July.
And while he’s also bullish on Ethereum and its utility, Dent says Bitcoin has already struck gold, and its sheer size and brand recognition will ensure it remains the market leader.
“I see Bitcoin becoming the standard for a digital global economy. Gold used to be this monetary standard in a more material less information-intensive economy. Gold can’t be that standard. It’s not the new economy.
Bitcoin is the new economy and it is big enough to be that standard and that is why I see Bitcoin will survive because otherwise ethereum does much more useful things than Bitcoin.
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