[Friday Rant] Another Bitcoin Bubble Just Ahead?

Another Bitcoin Bubble Just Ahead? Harry Dent | December 27, 2019 I hope you had a wonderful Christmas and are busy gearing up for whatever you plan to do to ring in the New Year. 2020 is going to be an extremely consequential year, as I've been forecasting for quite some time. Today, however, I wanted to focus my video specifically on Bitcoin and crypto stocks, because I get a lot of questions about whether or not we're going to see another bubble. Let me start here: whether we do or not near term – and either is possible in 2020 – the real bull market will not come until 2021 or 2022. Then it will prove to be the next big thing! The truth is Bitcoin's a lot like the Internet stocks, insofar as they first bubbled massively, peaked, then crashed. Then out of the ashes began the real longer-term boom from late 2002 into now, and especially since 2009 with the QE-driven bubble. That's why you have to play that market quickly in this stage; people who think they can just buy and hold crypto stocks are crazy! Look back at history: It makes things clear that cryptos are just like the Internet in its early "hype" phase and many others before it. Buy and hold will be an effective strategy only after this stage sees a 90%+ crash and many superficial companies go under as occurred between 2000 and 2002 for the internet stocks. Forget the debate whether this is just a silly bubble or really the next great thing… It's both! It just depends on where we are in the cycle. Watch this week's video for more… Harry Dent Economy & Markets | Dent Research You are receiving this e-mail as a part of your free subscription to Economy & Markets E-Letter. Remove your email from this list: Unsubscribe. To cancel by mail or for any other subscription issues, write us at: Charles Street Research Attn: Member Services, 819 North Charles Street, Baltimore MD, 21201 | Phone: 888-211-2215 | Fax: 410-223-2682 LEGAL NOTICE: Protected by copyright laws of the United States and international treaties. This e-letter may only be used pursuant to the subscription agreement and any reproduction, copying, or redistribution (electronic or otherwise, including on the worldwide web), in whole or in part, is strictly prohibited without the express written permission of Charles Street Research. This work is based on SEC filings, current events, interviews, corporate press releases and what we've learned as financial journalists. It may contain errors and you shouldn't make any investment decision based solely on what you read here. It's your money and your responsibility. The information herein is not intended to be personal legal or investment recommendations and may not be appropriate or applicable for all readers. If personal advice is needed, the services of a qualified legal, investment or tax professional should be sought. We expressly forbid our writers from having a financial interest in any security recommended to our readers. All of our employees and agents must wait 24 hours after on-line publication or 72 hours after the mailing of printed-only publication prior to following an initial recommendation. Click here to view our privacy policy.