One of the experts in investment Peter Grandich, announced in an interview with Kitco that it is investing in ‘uranium, gold, silver and copper stocks’ for a long time. Publishing a blog post, Grandich also stated that he sold various positions at a loss to invest in Arizona Metals Corp. AMC, on the other hand, increased by 8.36% after a while. As copper and gold prices continued to decline, Grandich explained that this was the victim of selling pressure rather than a specific reason.
Grandich, previously cryptocurrencyHe called the Tulip Madness of the 21st Century and announced that he would not make any investments in this industry. Bitcoin is currently trading at $19,745, significantly below its all-time high of $67,500, and is far from the desired performance.
Peter Grandich offered a different choice last year, announcing that he is not interested in owning any common stocks, bonds or crypto. Despite his negative attitude towards cryptoassets blockchain Grandich believes that its technology has real potential; He stated that blockchain could result in the formation of some high-potential companies similar to the internet bubble.
What will happen in the rest of the interview”real estate bubbleHe later stated that the domino effect can affect stocks, bonds and cryptocurrencies. The experienced name expects a 20-40% collapse in the real estate sector at a fast pace.
Responding to the concerns about the recession in the US market, Grandich stated that the US is already in a recession. The comments of the experienced name on this subject are not unique and different.
Atlanta Fedannounced that the GDPNow model showed negative growth of 2.1% in the second fiscal quarter. GDP growth in the first quarter had already turned out to be -1.8%. This marks two consecutive quarters of negative GDP growth. Most experts agree that this is the ground rule of a recession.
Recently, the Bloomberg Recession Forecast also revealed a 38% probability of a recession in the next 12 months.
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.