Gold will fade as Harry Dent predicts a massive crash; Bitcoin will follow suit below $3,250
On Tuesday, HS Dent founder and financial writer Harry Dent spoke to Kitco News anchor and editor-in-chief Michelle Makori, and he expressed his belief that the biggest crash of his lifetime is coming and that gold will be hit hardest this year. Will be one of the things to happen. This outlook certainly differs in many ways from those who believe that 2023 will prove to be a positive year for the yellow metal. Speaking of which, earlier this week, economist and gold advocate Peter had said that an increase in value is certainly a concept as a hedge against inflation and a weak dollar, and that he certainly supported gold and has historically Since then, gold has been expressed as a reliable store of value as well as a hedge against inflation and economic uncertainty. In addition, Jim, the host of CNBC’s Mad Money program, also emphasized that those who really want to hedge against inflation should go with gold and invest in it because it makes sense.
Additionally, Harry Dent appears to strongly disagree with this view and predicts with certainty that gold will lose significant value over the next 18 months, and during his interview with Makori, he states that gold is a safe-haven. Not surprised and I am predicting that gold will drop to $900 too $1000 and much less than commodities and of course it is still down 40 to 45 percent. Speaking of it, he has identified it as a financial bubble created over the past several years, which is currently referred to as such. Harry admits that 2023 will definitely be challenging and he anticipates that mid-2024 will be worse and during the interview he said that I think the last low for the stock at this point is July 2024. is likely to happen. The tech-heavy Nasdaq index (IXIC) could reach 10,088 again. The financial writer writes that “we are still in the early stages and we definitely need to break the previous low to know that the downtrend is going to continue and go much deeper… 10,088.”
Stocks had a bullish trend from 2009 to 2021 that was 120% and it was only the US central bank that was encouraging stocks more and more to go up and eventually whatever is down When it comes, it fails and everyone hangs. According to Harry we are starting a decline after a period of retracement and of course the bubble has finally burst or it has begun to burst and now the evidence is like 1929 or 1972 which as a bubble I wasn’t. Of course it was a prolonged recession. It takes two and a half to three years for a complete accident to happen. All we have seen or seen so far is the first crash and in terms of bitcoin he believes it will be the hardest hit of all assets and stocks. HS Dent executive expects bitcoin to $3250 Will fall to the limit of 1000 and with this it will come down as low as it was after the accident of covid-19 attack in March 2020 . Investors see cryptocurrencies as the next big thing and believe that there is potential to digitize all aspects of finance and money and expand to $600 trillion in financial assets as Harry said and digitize it Or is it really a “big deal” to add to the digitalization trend and expand business to more?
According to Dent, the real purpose of the cryptocurrency is to rebuild the entire crypto asset market, which is the world’s de facto second financial aid and explains roughly $100 trillion in global gross domestic product, while financial assets are the “biggest multiplier,” about $600 trillion. This is the reason why Dent is more bullish on bitcoin and crypto.
