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Harry Dent, a financial author, and investor, recently warned about the potential crash of cryptocurrency and the stock market.
In an interview with David Lin, Dent predicts that the crash will devastate Bitcoin and equity investors but ultimately pave the way for BTC to become the future of the global economy.
The investor believes the crash will likely happen by July, and it will mirror the dot-com crash of Amazon in the early days of the internet.
However, Dent thinks that BTC will rise like a phoenix after the crash and experience a great boom for decades to come, becoming the standard for a digital global economy.
The American sees Bitcoin as the lead dog in a revolution of financial services being ushered in by blockchain technology, which he believes is a wealth revolution.
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He is also bullish on Ethereum but believes that Bitcoin’s sheer size and brand recognition will ensure it remains the market leader.
Dent predicts that the crash will happen by July and will be as bad as 95% to 96%, which is how Amazon and the dot-coms went down.