At one time, great enthusiasm existed among those who found cryptocurrency investing to be a magic pathway to wealth. The price of different cryptocurrency assets skyrocketed. Today, value among various digital currencies dropped significantly. Investors who dismissed the warning of Shervin Pishevar may regret those dismissals. Pishevar launched an intriguing 21-hour tweet storm during the winter months of 2018. The tech entrepreneur warned the public about potential declines in Bitcoin. He also suggested the stock market could crash. Is it time to reexamine the controversial tweet storm?
Going back and rereading Pishevar’s tweets makes sense. As an early investor in Uber, Shervin Pishevar proved he understands finance, tech, investing, and business strategy. He’s not an analyst or a “financial guru” attempting to sell the public on a “how to” method. The tweet storm simply provided a way for Pishevar to inform the public. He shared his opinions. Those opinions are worth pondering.
Shervin Pishevar opined that Bitcoin would lose much value. He noted Bitcoin could bounce back somewhat after the decline. Those not involved with cryptocurrency investing might not worry how well Bitcoin or other digital assets perform. The stock market is a different matter.
While not everyone cares about cryptocurrency, few dismiss problems with the stock market. Investors alone aren’t the only ones who suffer when the stock market tanks. The negative ripple effect envelopes everyone in the economy. For this reason and more, Pishevar’s prediction that the Dow Jones may drop 5,000 points sends shivers down people’s spines. Shervin Pishevar raised the specter of such a crash in his tweet storm. He isn’t optimistic about the current market rally sustaining itself.
Pishevar covered a variety of other topics during the massive tweet storm. Silicon Valley was criticized heavily in many ways. More than Pishevar’s substantial Twitter followers read the commentary. The Tweet Storm became the topic of news reports. Maybe many are awaiting a new round of tweets from the entrepreneur.