Economist Harry Dent says you’re going to see this 55% crash in Q1
The founder of HS Dent Publishing warned the investors to be careful because soon the market will see a huge crash including the crypto market also.
Right now, the price of crypto assets is facing a huge downfall, in particular, Bitcoin touched around $41,500 earlier today on Bitstamp exchange. These are showing that a more critical situation is coming for the investors market like stock and crypto.
By taking the reference of the Fed raising interest rates, many experts shared their point of view. The majority of them predicted that people should remain aware of their investment in the money market.
Harry Dent is the founder of HS Dent Publishing and also he is a popular economist in this industry. In speaking with Kitco News, Harry hinted that investors may face huge problems because of losses with their investment. According to him, the greatest economic downfall is very near.
Harry suggested to the investors to sell out their assets before the market crash.
He stated:
“I’m saying stocks in general in this crash will be closer to the 1929 to 1932 crash. I’m estimating 87% for the S&P 500 and maybe slightly higher for the Nasdaq. So this is not something to sit through and just rebalance as financial advisors say.”
Further, he asserted that if you will get out of this situation then you will get an opportunity to buy next year (2023).
“You have to get out of the way of this and then we will have the buying opportunity in investments of a lifetime in around late 2023.”
Through this statement, Harry predicted that the current year is going to be a better option for the money Investment market.
According to Harry, the biggest crash can take place in Q1 of 2022. And it will touch around 45-55% downfall in the next first quarter. Further continues:
“it will come very fast when it comes. How much more can the market go up when it’s all already gone up this much against all the trends.”
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