"Everything Bubble Just Popped" Bitcoin to $3k before hitting $500k | Harry Dent's Last WARNING
I actually my target is this first crash its only the first crash of the bigger crash over a couple years will probably bottom around july, mid july, so were in that first crash, so this first wave has begun. First wave has begun. I think theres now not a big chance, well see another slight new high. I think stocks are going down and you need to sell on weakness, because this is not going to be another correction. Okay, people are used to it last 30 years. You know up correction. No, this is the beginning of a long term. Bear mark bear market rallies, are the strongest rallies because when something finally peaks, people dont believe it at first. So it goes down and then people buy the dips because theyve been taught to do that. The whole downturn, so the rallies are strong, but but at some point these rallies are going to be disappointing. I think this will be it. Weve gone down. Well have a rally here and if we go down to new lows in the next month or so, which i expect them to say july people are going to finally say uh. Oh somethings, wrong. You know somethings wrong that we may have really seen a peak in stocks and im saying january 4th in the s p, 500 was the peak and major markets around the world have been peaking for a whole year from february 2021 to recently. So this, if a normal peak in correction – oh everything goes down.
No, you dont see markets peak one after the next, unless its a long term top its the digitization crypto currencies are the digitization of all financial assets. Is that a big deal or not so thats? What it is bitcoin large, perhaps is that d5 or is that bitcoin, no its d5, but bitcoin i see when it grows and gets more accepted, could be the standard that everybodys talking to this conference about gold coming back means that no gold will never be the Standard it cannot keep up with the global economy, were in a digital economy now and bitcoin could become the new standard for the the digital economy in the future, replacing gold in that function. So so i would i and i think, bitcoin and ive tracked this versus the dot coms. I compare the the cryptos to the dot coms in the late 90s. It wasnt just a bubble in tech stocks. It was the dot coms, amazon, okay, amazon was a nothing burger and became the greatest retail in history. So this is gon na crash and i think bitcoin could go down to three to seven thousand and then go to half a million to a million in the next global boom. So that will be the vibe of a lifetime. But i wouldnt touch it with a 10 foot pole even down 50 60. Here all right. I want to break that down a little bit. So bitcoin goes down to around three thousand three to seven thousand in the next two years in in the global crash.
All financial assets and bitcoin is a is a new financial asset, its like the dot com. But ultimately, you see bitcoin going to half a million dollars, half a million to a million dollars by 2037.. You know what that that would be enough for it to overtake gold as a global standard for money. When you say global standard, do you see fiat currency being pegged to a bitcoin standard? What do you mean by that um? It could be. I mean you have to peg to something i mean heres, the thing this crash after the greatest bubble in history, when everybody took off the shackles, is going to show that you cant just print money and grow okay and everybodys done it. Us is not the worst player here, europe and japan or worse. When this crashes, its going to say we need a new standard, we need something real and we need something for the digital realm. Gold is not that i think gold will grow to three to five thousand in the next boom, because indians love gold. They like it as jewelry indians, wear jewelry. In places we cant even imagine they wear more jewelry compared to their income than anybody. Ive met in the world, so indians love gold, but the globe is going to love bitcoin long term. Bitcoin is going to be the new digital standard. I think for money and thats the standard, so other things crypto are innovations in in finance but go.
I think bitcoin becomes the global standard, its not there yet its, not big enough, its not widely accepted but – and i think itll crash the most. I think bitcoin, like i said four to seven thousand from 69 thatll – be the thatll crash more than stocks thats. What i would if, if we have this crash im predicting the next two years, the number one thing id buy, be bitcoin or ethereum coming out of it and thats. The next new wave, like the dot coms like amazon, were in the 2000 2002 crash. Okay, you know, and when amazon went from six to 136 in two years and back to six bucks that would have been the buy of your lifetime back in 2002., things are going up, and up and up people need to see somethings going wrong to make them At least think twice about high valuation, weve never seen real estate, thats overvalued way, more and or stocks even almost like 1929, but real estate is the most overvalued in history everywhere. You need something to say, somethings wrong, to get people to think so its a trigger for this collapse. It will not be the cause of this collapse in financial asset. The millennials are going to kiss the ground when this happens. What im saying, because real estate will go back down to 2008, so were in that first crash, so this first wave has begun. First wave has begun. I think theres.
Now not a big chance, well see another slight new high. I think stocks are going down and you need to sell on weakness, because this is not going to be another correction. Okay, people are used to it last 30 years. You know up correction. No, this is the beginning of a long term. Bear mark you cant, go wrong. Buying real estate own real estate and real estate goes down now last time, 34, even the great depression. 26. This is the biggest decline. This will be 40 to 50 real estate. Weve never seen that before thatll be a shock. Once you get a bubble, it has to deflate and bubbles, never deflate. Slowly. Everybody says we can have a soft landing. There is no soft landing anywhere in history to a major bubble, but it can be deferred a bit and then come down later. So i dont see, i will not be happy and say people invest again until i see this bubble deflate and i have my targets in stocks in real estate. I have all my targets. If we get to these targets the next few years ill say you can invest for the long term again right now, if you are invested in financial assets, you are going to lose a lot of money. I think in the next two years. I think the s p 500 brought in is going to go down 86 thats 670, its been up to almost like 4 800 at the top okay real estate down 40 to 50 percent.
Last time it was 34. I mean that this is what hits people the most when their home goes down in value and theyre underwater in their own home and cant, even borrow against their own equity, so thats thats, my fault and commodities go down even lower and gold goes to about 900 To 1 000 in the crash, and then zooms in the next book and when all of those low targets are met, thats when youre saying its safe to jump back into the water only only when things get back to reality, which they are nowhere near. So everybody thinks well, the fed keeps doing this that no were in a bubble, thats already so extended, theres, nothing. The fed can do except extend this a little longer.