Speaking with Kitco News, the economist and founder of HS Dent Publishing, Harry Dent, discussed what he says will be the greatest financial downturn ever occurring this year, “this is going to be the biggest crash; the biggest downturn of your lifetime” he warned. According to Mr. Dent, investors should consider selling now ahead of a complete market wipeout: He added:
Crash to take play in the first half of 2022
Additionally, the economist suggested that the first crash should take place within the first three months of 2022. He stated: Mr. Dent revealed there does not have to be a trigger, giving the 2000 peak of the first tech bubble as an example when there was no trigger, no recession, and no significant slowdown in the economy. According to the financial expert, now, the new stocks are the cryptos, which are not included in the Nasdaq, but they are performing the same function as the internet stocks did in 1999 and early 2000.
Bitcoin will get hit the hardest
Discussing whether people pulling out of crypto will start the crash, Dent revealed: Ultimately, Dent believes Bitcoin will get hit the hardest more than the other markets during the crash, going down to around $7,000. However, he does believe on the flip that cryptocurrency is the next emerging tech sector. Watch the video: Stock markets to crash 90% in 2022 Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
