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Bitcoin crash to $3k predicts by Economist H. Dent

The recent instability in the cryptocurrency market, hampered by rising interest rates and rising inflation, has led many industry analysts to predict a market collapse in 2022.

Economist and founder of HS Dent Publishing, Harry Dent, discussed his market vision for the gold, bitcoins and stock markets in an interview with Kitco News.

According to Mr. Dent and his current state of the cryptocurrency market warned that bitcoin could fall below $3,000 before shooting down to $ 500,000 in the upcoming market boom.

“It’s gonna crash and I think Bitcoin could go down to $3,000 or $7,000 and then go to half a million to a million in the next global boom [by 2037]. So that will be the buy of an of a lifetime, but I wouldn’t touch it with a 10-foot pole even down 50% here.”

Dent thinks that the current crisis after the “biggest bubble in history” will show that money cannot simply be printed, and it will also show that countries want a new pattern – something real and something digital domain.

Interestingly, the economist acknowledges that gold is not, despite the belief that it will “grow to three to five thousand” in the next growth.

He Expressed:

“The globe is going to love Bitcoin long term. Bitcoin is going to be the new digital standard, I think, for money, and that’s the standard, so other things crypto. I think Bitcoin becomes the global standard. It’s not there yet, it’s not big enough, it’s not widely accepted, but I think it’ll crash the most.”

It is worth noting that the economist plans a “biggest fiscal decline” in 2022 in January, suggesting that the first crash should occur in the first three months of 2022.

In fact, markets have deteriorated since this forecast was made. However, when he made this prediction, he ignored the Russian invasion of Ukraine. As things go on, people need to realize that there is something wrong with reconsider high valuations.

Watch: Bitcoin will crash crash to 3K

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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