Harvard Trained Economist: The Rise And Fall Of Bitcoin (Spoiler Alert: To $2,000 OR LOWER)

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by Harry Dent of Economy and Markets
Is This What Bitcoin’s Inevitable Crash Looks Like?
Two likely scenarios are about to play out for the world’s leading cryptocurrency over the next few months.
“Make no mistake about it: We’re living in the greatest stock market bubble in modern history,” says the famed Harvard economist, Harry Dent.
But it’s not the greatest bubble anymore. According to Dent, that dubious honor goes to Bitcoin.
However, there are experts out there still trying to convince investors that Bitcoin isn’t in a bubble. “That’s dangerous talk, if you ask me,” he says.
And if you look back in recent history, you can practically see the path to its crash mapped out perfectly.
Dent sees Bitcoin and cryptocurrencies are following a similar road as the most bubbly sector of the late 90’s tech boom – internet stocks.
At the time, the Bloomberg internet index went up eight times in a little more than a year … but then it collapsed 93%.
Most of the damage occurred within one year of that, as usual, with the first sharp crash in the first few months. Investors lost 50% right off the bat in a few months, which is exactly why Dent believes it’s always better to get out a bit early.
Now, look at Bitcoin compared to internet stocks back then… and note that Bitcoin is one of the most extreme and largest leaders here – it’s like one stock versus a broader index – so it may be a little more exaggerated…

It might as well be identical!
Now, if Bitcoin follows the same pattern as the internet bubble, it could first see a sharp correction down to between $7,000 and $8,000, then make a final push to something like $20,000 or a bit higher. Then collapse 90+% back down to $2,000 or so.
The second likely scenario is that Bitcoin is already nearing its final peak and will crash dramatically, sooner rather than later.

Either way, this bubble is likely closer to the end than it is the beginning and the risks are growing of a major 90%-plus crash with most of it occurring in the next year.
Harry Dent’s research tells him this late-stage bubble could peak just weeks ahead of the broader Nasdaq bubble and give warning signs of the next great market crash ahead. “A crash in which we’re likely to see a 40%-plus loss in the first two or three months,” he says.
But here’s Dent’s most important insight…
“This cryptocurrency trend is the second stage of the internet revolution and deals with security of financial transactions increasingly under threat of being hacked.
It’s about a more secure, faster, and lower cost way to deal with your money online. That makes this a major trend in the longer term.”
Specific stocks in this emerging space, dealing with the cryptocurrency technology and the blockchain, will be the “leaders to come out of the greatest crash, making them prime “sale of a lifetime” candidates in the years ahead.”
To find out which crypto-related technologies will survive and thrive, despite the fall of bitcoin and other digital currencies, enter your email after following this link to get a free copy of our latest report, Bitcoin Buyer Beware…

READ  OUCH! #Bitcoin extends losses as traders eye $30K.

2 thoughts on “Harvard Trained Economist: The Rise And Fall Of Bitcoin (Spoiler Alert: To $2,000 OR LOWER)

  1. And then when the fiat currency dollar collapses, others might be welcome to still owning Bitcoin as well as Gold, Mr. Dent.

  2. To compare bit cion to the dot com bubble is just stupid, the two are apples and cars, bit cion will be a store of wealth unlike the fake dot com scam, all scams crash but to say bit coin is a scam, thats the scam….FUD

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