Harry Dent shared his opinion on the future ups & downs of the crypto market more likely to the 90s’ Amazon & dot-com bubble.
Crypto adoption is surging rapidly and now we are at the stage where big players are trying to jump with significant wealth, thanks to the 2021 bull run of the crypto market which made many crypto investors rich in a small time frame. The majority of the big players are analyzing the crypto market in collinear comparison with the 90s digital companies, which collapsed badly but a few of them successfully sustained their future like Amazon, Yahoo, Google, etc.
On 24 August, Harry Dent, Economist and founder of HS Dent Publishing, appeared in an interview with Rich Dad Radio Show.
During the interview, Harry said that crypto is going to be the next thing in the future but it will follow the dot-com bubble that saw stocks like Amazon crash before rallying to record highs.
“I compare the cryptocurrencies, Bitcoin just like the Amazon of it, the new dot-com retailers that were the rave only the last part of the 90s bubble, and were the epitome of it. Amazon led that bubble and crashed 95%… before it went to 3,500 in the next boom.”
Further, Harry said that he entered the crypto industry after coming to know about its core concept. Economist said that A guy defined crypto as the digitization of all financial assets and money, during his conference.
Earlier, Harry predicted that money markets will face significant correction in 2022 because of the new measures & policies of the Federal Reserve amid rising inflation.
Notably, an Economic expert claims that crypto market correction will not require any reason to happen, more likely to the 2000s’ tech bubble, in which many Internet-inclined tech companies collapsed.