The Spot costs have risen from $1,823 an ounce to $1,937 an ounce in 2023. This has led to a major increase in the gold’s value. However, Harry DentHS’s founding father Dent Investment ManagementAccording to, this pattern could not be continued in a short time. Dent Gold could lose value between $900 and $1,000 in the next 18 months, according to predictions
HS Dent founder’s “everything bubble” Principle and its potential impact on the financial sector
On Tuesday, Harry DentHS’s founding father Dent And monetary writer, spoke to Michelle MakoriLeah, editor-in chief and anchor Kitco News. Dent He expressed his opinion that “the biggest crash of our lifetime” This year, gold will be the hardest-hit commodity of the year. This Perspectives differ from those of many. “gold bugs” Who believe that 2023 will be a productive year for yellow steel.
This Week, economist and advocate for gold Peter Schiff It was argued that gold’s value has risen because of its idea. “a hedge against inflation and a weaker dollar.” HistoricallyGold is a solid store of worth that can be trusted and used as a hedge against inflation and financial uncertainty. Similarly, Jim CramerCNBC’s hosts:. Mad MoneyIt was also stressed that hedgers who actually want to hedge against the odds are those who will be able to do so. “inflation or economic chaos” should “stay in gold.”
Dent This outlook is not supported by Goldman Sachs and it is predicted that gold will lose significant value over the next 18 months. “Gold is not a safe haven,” Dent He stated this throughout his interview with Makori. “I’m forecasting gold to go from $900 to $1,000. That will be a lot less than other commodities… that’s still a 40 to 45 percent drop from here,” He added. Dent The existence of a variety of artificial monetary bubbles was recognized in the past. This is the current situation. “everything bubble.”
While Dent He believes 2023 could be just as difficult and that mid-2024 will be even more challenging. “I think the bottom at this point for stocks is probably… July 2024,” Dent The interviewer stated that technology-heavy is a key point. Nasdaq (IXIC), index could hit 10,088 again. “SoHowever, we are still in the initial stages. To This crash can continue and can get much deeper. We have to break the previous low, which is 10,088. The Additional monetary writer:
The The synthetic inventory growth between 2009 and the top of 2021 was 120 percent. Was solely [the U.S. central bank] To ensure that the inventory market keeps growing, stimulate more That You are taking a dangerous monetary drug that eventually goes down and fails.
Dent Predicts Bitcoin Will Be The Hardest Hit Asset In The Next Economic Crisis, But Remains Long-Term Bullish
Dent It is assumed that the following wave will be in decline, after an interval of sideways movement. “This bubble finally burst, started to burst,” Dent Be informed Kitco host. “Now A bubble of this size would be similar to the one in 1972 or 1929, but it was a long-term bubble. [downturn]. It An entire accident can take between two-and-a-half to three years. All “We have seen this so far and we have seen it. It is the primary incident.” Dent added. In Phrases of bitcoin (BTC), Dent He believes he will be hardest hit by all of his possessions and shares.
The HS Dent govt expects Bitcoin Crash to $3,250 range, the exact same low as the Covid-19 crash in March 2020. “I think it goes down to $3,250 and then a longer-term boom starts.” . Dent opined. The Investor sees cryptocurrency the next large factor and believes it has the potential for digitization of all aspects of finance, cash and other financial transactions. “There is $600 trillion dollars” In monetary possessions Dent Detailing, digitizing and increasing commerce to make it more environment-friendly is a possibility. “big thing.”
The True function of cryptocurrency in response to DentIt is necessary to restructure the entire monetary asset market which is the largest monetary quantity on the planet. Global GDP is estimated at $100 trillion Dent Defined, whereas monetary assets “is the biggest multiplier,” Around $600 trillion “That is why I am bullish on bitcoin and crypto,” Dent stated.
What do you consider Harry Dent’s Are there any predictions for the future of bitcoin and gold? Do Do you agree with or disagree with his evaluation? And why? Share Please submit your feedback below.
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