Shervin Pishevar is the kind of person that you should probably take seriously when he says that the stock market is about to take a drop. The man has been right with these types of predictions in the past. Shervin Pishevar also does not put out a warning like this without some very careful consideration of his reasons for doing so. Lately, he has seen a market that he views as getting way ahead of itself. He wants to see investors pull back on their funds at least a little in this market.
Shervin Pishevar went on a Twitter rant to tell people about what he believes is about to happen in the economy. He took twenty-one hours to spill out fifty numbered tweets talking about all kinds of different developments that he sees happening in the world around us. The biggest things that he cared to talk about had to do with the current state of our economy. He wanted to make it clear to people that he is not some kind of cheerleader for this roaring stock market. In fact, Shervin Pishevar believes that it is about to head for a pretty remarkable correction.
— Shervin Pishevar (@shervin) March 16, 2018
Twenty percent is roughly the number that Pishevar believes the market will fall before finding at least a temporary bottom. He does believe that investors have gotten way ahead of their skis and have bought into the idea that the economy is just going to continue to grow and grow. That is not how it is going to work out he insists. There is definitely going to be a correction, and it might even be a pretty ugly one.
If you are thinking “that’s fine, I’ll just store my money in something like Bitcoin” think again. Shervin Pishevar has an even worse outlook for Bitcoin than he does for the stock market. Bitcoin might fall all the way down to between two and five thousand dollars per Bitcoin believes Pishevar. That would be a major loss for those who are holding that currency. As such, Pishevar thinks that now more than ever is the time to consider a new path ahead and perhaps do something a little different.