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Since September 2015, redman has written over 6,000 items for bitcoin.com news on the disruptive protocols emerging today.. However, Harry Dent, founder of Hs Dent Investment Management, believes that this trend is unlikely to continue for the foreseeable future. But Harry Dent, founder of HS Dent Investment Management, believes this trend may not continue for the foreseeable future.
HS Dent Founder’s ‘Everything Bubble’ Theory and Its Potential Impact on the Economy
On Tuesday, Harry Dent, founder of HS Dent and financial author, with Michelle Makori, the lead anchor and editor-in-chief at Kitco News. Dent expressed his conviction that "the greatest accident of our life" is coming and that gold will be one of the hardest hit products of the year. This perspective differs from that of many “gold bugs” who believe 2023 will be a positive year for the yellow metal.
This week, the economist and gold champion Peter Schiff that the rise in the value of gold is due to his perception as "protection against inflation and a weaker dollar." as far as the story is concerned, gold was considered a reliable stock of value and protection from inflation and economic uncertainty. Similarly, Jim Cramer, host of CNBC’s Mad Money program, emphasized that those who truly wish to protect against “inflation or economic chaos,” should “stick with gold.”
Gold is expected to lose a significant value over the next 18 months. "Gold is not a refuge," said Dent when he spoke to Makori. "I predict the gold will increase from $900 to $1,000. It's going to be much less than other products...it's still a 40% to 45% drop from now on," he said. It's going to be much less than other products...which is another 40% to 45% drop from here," he said.
Dent has already identified a number of financial bubbles that have been manufactured over the years and has described the current situation as a "bubble of all". "I feel that the final trough right now for equities will likely be July 2024 or thereabouts," Dent said in the interview, noting that the techno-heavy nasdaq index (ixic) may still be as high as 10.088. We are still at the beginning stages. This means that we are still in the first stages. To know that this fall continues and that it will go much further, we have to reach the final trough of 10,088."
The boom from 2009 to late 2021 in stocks was 120 percent artificial. It was simply a matter of [the central bank of the United States] increasingly stimulating the stock market...which is taking a toxic financial medicine, who ends up falling and failing, There's something wrong with you.
It was simply a question of [the central bank of the United States] increasingly stimulating the stock market [...] It is a toxic financial drug, who ends up falling and failing, There's something wrong with you.
Dent predicts Bitcoin will be the hardest hit active in the next economic crash, but is always optimistic in the long run. Is always optimistic in the long run presupposes that we begin the next wave of decline after a period of lateral movement. "This bubble eventually burst, it began to burst," said Kitco's tooth anchor. 'Now a bubble this big, like 1929 or 1972, that wasn't a bubble, but it was a long-term [recession]. Two and a half to three years are required for a complete accident to occur. In terms of bitcoin (BTC), Dent believes it will be the hardest hit among all assets and stocks.
In terms of bitcoin (btc), dent believes that it will be hit hardest of all assets and inventories. The Executive of Hs dent expects bitcoin to crash to the $3,250 range, reaching the same low as the COVID-19 crash in March 2020. "I think it's going down to $3,250, and then it's starting to boom in the longer term," dent said. The investor considers cryptocurrency as the next great thing and believes that it has the potential to lead to the digitization of every aspect of finance and money.
"There are 600 trillion dollars" in financial assets, Dent detailed, and the digitization and expansion of trade to make it more efficient is an "enormous thing." "there's $600 trillion" in capital assets, dent detailed, and the digitalization and expansion of trade to make it more efficient is a "huge thing", from scratch, is to reorganize the financial asset market as a whole, that is the largest number of financiers in the world. The global gross domestic product is approximately $100 trillion, while financial assets "are the largest multiplier", approximately $600 trillion.
"This is why I am optimistic about bitcoin and crypto," Dent stated. How do you see Harry Dent's forecast for the future of gold and bitcoin? Do you agree or disagree with the evaluation and for what reason?
