Harry Dent, founder of HS Dent, warns that the “everything bubble” could finally burst in 2024. Dent predicts a meltdown in all assets, including Bitcoin and gold.
There is almost nothing that doesn’t bubble!
Harry Dent says balloons are dangerous. Because it states that the economy is overstimulated and the downward movement will be rapid when assets start to be sold. In this context, Dent makes the following statement:
We won’t know if we’ll get through this until the second half of this year. And the problem is that by then everything can happen very quickly. Bubbles collapse because they inherently go to extremes. Because people invested in things just because they went up. (…) Normally we experience a recession every ten years. We have a boom for seven to eight years and then slowly enter a recession for two to three years. This is how our economy stays healthy. This is what we’ve been blocking since 2008. We do not allow failure because they are afraid that failure will cause the entire castle to collapse. This is a much more global situation. There’s almost nothing that hasn’t ballooned.
““Every major crash in history has had three down waves.”
Harry Dent warns that once the sell-off begins, the stock market will fall around 60% from its recent highs. The famous investor states that we see the first wave in 2022. In this regard, Dent said, “This will be a medium wave decline. “Every major crash in history has had three down waves.” says. Dent also states that the last wave will come from now on. However, he adds that the biggest damage will come in the second wave. Dent predicts that people will start to panic when the Nasdaq falls below this level.
While gold is stagnating, what does Bitcoin tell the markets?
Bitcoin will likely be the leading indicator, according to Harry Dent. If it continues to fall, it will be an alarm for real estate and other assets. This includes gold. In this context, Dent comments:
Bitcoin is the leading dog of this nascent industry, much like Amazon and online retailers in the first tech bubble of the late ’90s and early 2000s. I’d like to see Bitcoin start to fail here. If Bitcoin falls below $40,000, it is likely a sign that we will enter another bearish wave.
Why is gold at risk of selling?
cryptokoin.comAs you follow from , gold prices continue to remain above 2 thousand dollars. Gold is also at risk of a sell-off in this everything bubble, according to Harry Dent. The famous investor shares his assessment of the shiny metal:
In 2008, gold survived the early stages of 2008 and only fell in the second two quarters. It then briefly fell by about 45 percent and then rose again. The shiny metal did not experience the worst crash during that period. However, he collapsed and started running to the mother.
Harry Dent predicts that the same cycle will repeat this time. However, he states that before this happens, the gold price may reach new record levels such as $ 2,200-2,300.
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