Cole Garner known as crypto analyst says that global economy is going to hitting its bottom, where Crypto currency including Bitcoin (BTC), Ethereum (ETH), XRP and other major altcoins will hit hard.
Dalio Ray and Garner in massive tweet fight they said world economy is going under depression similar to 1930s recession.
Dalio said next five years will be recovery for world economy and financial machines. he added: “Just so we are clear: A recession usually leads to a 30% to 40% fall in equities, a big recession usually has a 40% to 60% fall and a depression is 60% to 80%. We haven’t even priced in a recession yet.
There is a long way to go”. Garner warned traders that Bitcoin might be hit 4800$ as low in coming days. He believe that it will be great opportunity for new investors to get bitcoin on lowest price as big whales already out of market since December 2017.
he added: “If and when we leg down, risk-on assets like BTC probably sell off. Bitmex liquidation engine won’t make the same mistake twice. But Bitcoin could fill low orders. It’s bullish *big picture* — but a sweep of the lows could come first. If we leg down, I’m a buyer from $5,600 on down to $4.800…