Tech investor and entrepreneur, Shervin Pishevar, went on a 24-hour tweet storm in February 2018. His analysis and predictions regarding the tech market and the Dow Jones caused a great deal of interest in the tech world. Nearly a year later, it is worth reexamining Pishevar’s predictions and determining which have come to pass.
“Bitcoin will continue to crash but stabilize at 2-5k range and begin a more stable rise over (the) next 24 (months),” said Pishevar last February.
The Bitcoin price spiked in December 2017, climbing to a stunning high of $13,860. Just one month later, the price dove to 10,309. This downward trend continued for the remainder of 2018, closing out the year 2018 at the low price of 3,689. Shervin Pishevar correctly predicted this trend in his tweetstorm. Time will tell whether a stable rise in Bitcoin prices will occur, but it is worth keeping an eye on this prediction.
“Era of cheap money is dead. Inflation spreading, stock markets crashing, underemployment hardening into systemic economic stasis.”
Pishevar also correctly predicted the fall in the US stock market, especially the Dow Jones Industrial Average. In January 2018, the Dow Jones had risen to a dizzying 26,149. The market underwent a dip between March and June before spiking again in August. The market plunged in December 2018. Indicators continue downward, with periodic sell-offs related to a higher interest rate set by the Fed. Many experts believe that we are only at the beginning of an economic downturn.
In response to the stock market losses, Shervin Pishevar predicted that “gold will rise.” This prediction has not yet borne out, with gold prices starting at 1,330.73 in February 2018 and ending at 1,282.70 in January 2019. If the economy continues to slide as Shervin Pishevar predicted, we may see higher gold prices as a result.
Shervin Pishevar has proven accurate with regards to Bitcoin prices and the stock market. While his other predictions have not yet been tested, his reliability may point to more of his forecasts coming true.