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Saturday, July 22, 2017

Analyst Who Predicted 1987 Stock Market Crash Predicts Bear Market for Bitcoin and Altcoins

Analyst Who Predicted 1987 Stock Market Crash Predicts Bear Market for Bitcoin and Altcoins

Market analyst Elliott Prechter has projected that digital currencies, particularly Bitcoin, will experience a sharp decline in the near future. Prechter has correctly forecast the surge of Bitcoin in 2010 when the cryptocurrency’s price was just six cents.


In his July 13, 2017 report, Prechter claimed that the Elliott wave pattern, optimistic psychology, and Blockchain bottlenecks will lead to the collapse of the digital currency market.


"The price activity and manic sentiment that led to present prices have dwarfed even the Tulip mania of nearly 400 years ago. The success of Bitcoin has spawned 800-plus clones (altcoins) and counting, most of which are high-tech, pump-and-dump schemes. Nevertheless, investors have eagerly bid them up.”


Previously predicted the stock market crash


Full story at http://bit.ly/2uL6aeu


Source: CoinTelegraph


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