In this week’s Bitcoin.com News Week review, a market strategist issued a dire warning about the US economy and a major market crash that could lead to a “50 to 60 percent haircut” in stocks. In addition, the Russian government is said to be making moves to create a global gas cartel with Iran. Below are these stories, as well as the latest Robert Kiyosaki market predictions and the news that a whale mined 10,000 bitcoins that may be related to the 2011 Mt Gox hack.
A market strategist expects the stock market to fall 50% from this, he said
Following Jerome Powell’s hawkish remarks at the annual Jackson Hole Economic Symposium, major stock indexes, cryptocurrencies and precious metals slipped in value. More than $240 billion has been wiped from the crypto market and the Crypto Fear and Greed Index continues to decline, heading for “higher fear.” In addition, bubbatrading.com chief strategist Todd ‘Bubba’ Horwitz explains that the Federal Reserve’s rate hikes during a recession will destroy what’s left of America’s middle class.
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Robert Kiyosaki Real Estate, Stocks, Gold, Silver, Bitcoin Markets Are Crashing – ‘Millions Will Be Lost.’
Rich dad poor dad, Robert Kiyosaki, famous for naming real estate, stocks, gold, silver and bitcoin, has warned that all markets are crashing. “That crash is here,” said Kiasaki, referring to what he foretold was a bigger disaster than the 2008 financial crisis. Millions will perish.”
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Moscow has claimed that Russia and Iran are planning to form a global gas cartel to start their own precious metals exchange.
Russia is reportedly building the foundations of a global gas cartel with Iran following Russian President Vladimir Putin’s announcement in late June that BRICS members were considering plans to create a new “global reserve fund.” Financial journalist and best-selling author Simon Watkins said: “The combination aims to control two key elements in the global supply matrix as much as possible.” At the same time, Russia intends to create an exchange of precious metals called Moscow International Standard (MWS).
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Whale 10,000 BTC Worth $203M, Bitcoins Stem From Infamous 2011 Mt Gox Hack
Over the course of two days, the price of bitcoin fell to a new August low, falling below the $20k range for the first time since mid-July. During that time, two addresses created on December 19, 2013, sent 10,000 bitcoins worth $203 million to anonymous wallets after sitting idle for nearly nine years. Onchain data shows that the first 10,000 coins moved this week came from the June 19, 2011 Mt Gox breach.
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What do you think of this week’s stories? Are market forecasts accurate? Will crypto and other assets help weather the so-called middle class storm? Let us know what you think in the comments section below.
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