American trend forecaster and "citizen of the world" Gerald Celente says that the crypto market isn't necessarily a bubble, but rather a growing market mirror the 21st century.
Appearing on the Alex Jones Show earlier in the week, Celente said that the craze for crypto is a "populous movement" that can not compare to the 1600's tulip mania considering the real, money like value of cryptocurrencies.
"This is real money it a lot of ways," Celente said, pointing out Peter Theils reported investments into Bitcoin as a stamp of legitimacy.
"80 percent of the action is coming from Asia, not the United States," the publisher of the Trends Journal said. "People are looking at the fiat currencies ... again look at the budget deficit in the United States ... how about the one over there in China the debt to GDP ratio of 300."
Celente went on to say that a crypto bust may happen at some point, but like the dot-com bust in 2000 big winner could emerge.
"Yea, everything crashed in 2000, in March. But hey after that you saw it grow again. So we see this crypto-mania as, not a bubble, but its really a lot of the 21st century."
"The world is going cashless," Celente said. "There's no coin of the realm to hang on to so people are cashing into the cryptos they think will bring in the most amount of cash."