In this week’s Bitcoin.com News Weekly, a market strategist issued a dire warning about the US economy and a major market crash that could cause “a 50 to 60 hair cut”. %” in shares. Moreover, the Russian government is said to be making moves to create a global gas consortium with Iran. These stories, as well as Robert Kiyosaki’s latest market predictions and the news of a whale spending 10,000 bitcoins possibly related to the 2011 Mt Gox hack, are located right below.
Market strategist expects stock market to drop 50% from here, says ‘There will be no more middle class’
Following Jerome Powell’s hawkish commentary at the annual Jackson Hole Economic Symposium, the major stock indexes, cryptocurrencies, and precious metals fell dramatically in value. More than $240 billion has been removed from the crypto market and the Crypto Fear and Greed Index continues to drop lower, moving towards “extreme fear”. Furthermore, chief strategist at bubbathrading.com, Todd ‘Bubba’ Horwitz, explains that a Federal Reserve rate hike during a recession will wreak havoc on what’s left of the American middle class.
Robert Kiyosaki Says Real Estate, Stocks, Gold, Silver, Bitcoin Markets Are Crashing – ‘Millions Will Be Wiped Out’
Robert Kiyosaki, the popular author of the best-selling book Rich Dad Poor Dad, has warned that all markets are crashing, namely to name real estate, stocks, gold, silver and bitcoin. Referring to his earlier prediction of a larger crash during the 2008 financial crisis, Kiyosaki said: “That crash is here. Millions of people will be wiped out.”
Report claims Russia and Iran plan to form a global gas consortium, Moscow to launch its own precious metals exchange
Following a statement by Russian President Vladimir Putin at the end of June showing that members of the BRICS nations had formalized plans to create a new “international reserve currency”, Russia is said to be building a platform. foundation of a global gas consortium with Iran. Financial journalist and best-selling author Simon Watkins states “the alliance aims to control as much as possible two key elements of the global supply matrix”. At the same time, Russia intends to create a precious metals exchange called the Moscow World Standard (MWS).
Whales spend 10,000 won BTC Worth $203 Million, Bitcoin Obtained From Infamous Mt Gox Hack of 2011
In a two-day period, the bitcoin price fell to an August low as it fell below $20k per region for the first time since mid-July. During that time, two addresses were created on the day. December 19, 2013, sent 10,000 bitcoins worth $203 million to unknown wallets after being inactive for almost 9 years. Onchain data shows that 10,000 coins transferred this week originally came from the Mt Gox breach that occurred on June 19, 2011.
What do you think of this week’s stories? Are dire market predictions accurate? Will cryptocurrencies and other assets help the so-called middle class weather the storm? Be sure to let us know what you think in the comments section below.
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