"Mega Crash!" Gold and Bitcoin Predictions from the Famous Investor!

Harry Dent, founder of HS Dent, warns that the “bubble of everything” could finally burst in 2024. Dent predicts a meltdown in all assets, including Bitcoin and gold.

There’s almost nothing that hasn’t ballooned!

Harry Dent says balloons are dangerous. Because he states that the economy is overstimulated and that the downward movement will be rapid when assets start to sell. In this context, Dent makes the following statement:

We won’t know until the second half of this year if we’ll be able to get through this. And the problem is that until then, everything can develop very quickly. Balloons, by their very nature, collapse because they go to extremes. Because people have invested in something just because they have risen. (…) Normally, we have a recession every ten years. We have a boom for seven to eight years, and then we gradually go into recession for two to three years. This is how our economy stays healthy. That’s what we’ve been blocking since 2008. We do not allow failure, because they are afraid that failure will lead to the destruction of the entire fortress. This is a much more global situation. There is almost nothing that has not ballooned.

### "Every major collapse in history has had three down waves"

Harry Dent warns that the stock market will fall around 60% from its recent highs when the sell-off begins. The famous investor states that we saw the first wave in 2022. Accordingly, Dent said, "This will be the mid-wave decline. “Every major collapse in history has had three downdrafts.” Dent also notes that the final wave will come after that. But he adds that the biggest damage will come in the second wave. Dent predicts that when the Nasdaq falls below this level, people will start to panic.

### What is Bitcoin telling the markets as gold stands still?

According to Harry Dent, Bitcoin is likely to be the leading indicator. If it continues to fall, it will be an alarm for real estate and other assets. This includes gold. In this context, Dent makes the following comment:

Bitcoin is the leading dog of this nascent industry, much like Amazon and online retailers during the first tech bubble of the late 90s and early 2000s. I’d like to see Bitcoin start to fail here. If Bitcoin breaks below $40,000, it’s likely a sign of another bearish wave.

### Why is gold at risk of selling?

As you can see from Kriptokoin.com**, gold prices continue to stay above $2,000. According to Harry Dent, gold is also at risk of a sell-off in this everything bubble. The famous investor shares the following assessment of the shiny metal:

In > 2008, gold stood afloat in the early stages of 2008 and fell only in the second two quarters. It then briefly fell about 45 percent and then rose again. The shiny metal did not suffer the worst collapse during that period. However, he collapsed and began to run to the mother.

Harry Dent predicts that the same cycle will be repeated this time. However, before that happens, the price of gold could reach new record highs of $2,200-$2,300.

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