Crypto

Could a Bitcoin market crash happen this year?

Harry Dent shares his views on the current bitcoin price, how bitcoin has become a collaborative opportunity and catabolic investment, for the most part.

Published

6 years ago

February 5, 2018

Harry Dent

There are two types of stock bubbles – normal stock bubbles of five years or so and shorter-term, more extreme bubbles – and we’re currently in the midst of both kinds.

Both are characterized by irrational behavior …

A complete break from any fundamentals.

Let’s compare the cryptocurrency bubble to five other quick-and-nasty bubbles that have wiped out investors in the past. I’m talking, of course, about the tulip bubble, the South Sea and Mississippi bubbles, the internet bubble, and the recent China bubble. All of them have something in common, and that’s really bad news for those latecomers to this Bitcoin bubble.

http://www.facebook.com/EconomyMarkets/videos/1680829948634855/

The thing with this Bitcoin bubble – and all the bubbles, stock and short-term alike, that have come before it – is that it ultimately results in a shakeout. It destroys all the flotsam and jetsam lurking in the market in question. And it presents once-in-a-lifetime wealth-building opportunities.

Take Amazon for example. During the dot.com boom, it went to $113 per share. Then the crash brought it tumbling down to just $5.50 a share – down 95 percent. It survived though, and today one share goes for more than $1,300. That’s a 240 times gain!

The same kinds of opportunities will present themselves once this crypto bubble has burst. We believe one cryptocurrency, in particular, is in a good place to survive the shakeout ahead. Think of it as the Amazon of the cryptocurrency world.

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DISCLAIMER: This article expresses my own ideas and opinions. Any information I have shared are from sources that I believe to be reliable and accurate. I did not receive any financial compensation in writing this post, nor do I own any shares in any company I’ve mentioned. I encourage any reader to do their own diligent research first before making any investment decisions.

Harry Dent

Harry S. Dent Jr. studied economics in college in the 1970s, receiving his MBA from Harvard Business School, where he was a Baker Scholar and was elected to the Century Club for leadership excellence. Harry grew to find the study of economics vague and inconclusive and became so disillusioned by the state of his chosen profession that he turned his back on it. Instead, he threw himself into the burgeoning new science of finance which married economic research and market research. Identifying and studying demographic trends, business cycles, consumers’ purchasing power and many other trends empowered Harry to forecast economic and market changes. Over the last three decades, he’s spoken to executives, financial advisors and investors around the world. He’s appeared on “Good Morning America,” PBS, CNBC and CNN/FN. He’s been featured in Barron’s, Investor’s Business Daily, Entrepreneur, Fortune, Success, U.S. News and World Report, Business Week, The Wall Street Journal, American Demographics and Omni. He is a regular guest on Fox Business’s “America’s Nightly Scorecard.” Harry has also written numerous best-selling books over the years, such as The Great Boom Ahead, The Roaring 2000s, the Roaring 2000s Investors and The Demographic Cliff. In his most recent book The Sale of a Lifetime: How the Great Bubble Burst of 2017 Can Make You Rich (2016), Harry looks at the upcoming economic crisis and reveals how it could be the single greatest chance to build wealth we’ll ever see and how we can capitalize on such a unique and historical opportunity. He explains how many of the richest Americans in history have used this same kind of opportunity to quickly accumulate incredible amounts of money, in a short period of time.