Renowned investor and author Harry Dent is sounding alarmingly about the stock market and cryptocurrency. According to Dent’s recent interview on the David Lin Report, an impending crash will have a catastrophic impact on both Bitcoin and equity investors.
However, Dent believes that the aftermath of the crash will pave the way for Bitcoin to emerge as the future of the global economy. The expected crash could happen as early as July and resemble the dot-com crash of Amazon’s early days.
Despite the crash’s potential severity, Dent remains optimistic about Bitcoin’s future, claiming that it will rise from the ashes like a phoenix.
Post-crash, he predicts that critics will deem Bitcoin a hoax, but Dent remains steadfast in his belief that Bitcoin is the future of the global economy.
In an interview, Harry Dent stated that the upcoming crash will not be a mere joke but will have severe consequences like the one experienced by Amazon and the dot-coms. Dent has also stated that the crypto bubble has increased significantly, making it evident that the next big thing is happening.
He also added that the situation mirrors the dot-com bubble’s situation accurately. The expected crash is as severe as 95% to 96%, like the one experienced by Amazon and the dot-coms. But, after the crash, Bitcoin is expected to have an excellent boom for decades, according to Dent.
He believes that Bitcoin’s recent rise to an all-time high of $69,000 is just the beginning, and the rise of Millennials will fuel its future. According to Dent:
Investor and author Harry Dent believes that blockchain technology is the driving force behind a financial services revolution. Dent acknowledges that Bitcoin is the pack’s leader, but the blockchain is the key to reconstructing financial services.
He describes this revolution as a wealth revolution driven by blockchain technology. Dent predicts that the upcoming crash will happen by July, and although he is bullish on Ethereum and its utility, Bitcoin has already outperformed gold. Dent believes Bitcoin will remain the market leader and become the standard for a digital global economy.
He emphasizes that gold cannot be the standard for the new information-intensive economy. Still, Bitcoin is big enough to be that standard, indicating its potential to survive and thrive.
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