Economist Harry Dent shared his expectations for Bitcoin and gold in an interview with Kitco News.
Stating that he maintains his long-term expectations for Bitcoin, the economist stated that the price before the explosion, which went to $ 500,000, may fall to $ 3000.
“It will collapse. I think Bitcoin could go as low as $3000 or $7000 and then go from half a million dollars to a million dollars by 2037 in the next global boom. It will be the buy of my life if the price drops to these levels. But even if we fall 50% from here, I will not touch it.”
The economist said that during this global boom, gold could rise to $3,000 to $5,000, but he would not buy gold anyway.
“The world will love Bitcoin in the long run. Bitcoin will be the new digital standard for money. I think Bitcoin will become the global standard, but we are not at that stage yet. It’s not big enough and isn’t widely accepted, so it’s most likely to collapse during collapse.”
In his interview at the beginning of 2022, the analyst correctly predicted that a major collapse would begin in the first 3 months of the year.
He now thinks that the collapse will continue and that gold may drop to $900 and Bitcoin to $3000.
Although the economist predicts that Bitcoin can drop to $ 3000, when we look at the bull cycle movements of Bitcoin before this, we see that it has never gone below the peak of the previous cycle.