Despite the record highs in the US stock market and the outstanding performance of the AI chip giant Nvidia, American economist Harry Dent warned on the 10th that a historic stock market crash is imminent. The Nasdaq Composite Index may plummet by 92%, and Nvidia’s stock price could drop by 98%. It is worth noting that in December of last year, he stated that he would buy Bitcoin after the market hits bottom.
According to Fox Business, American economist and founder of HS Dent Investment Management, Harry Dent, warned in December of last year that a once-in-a-lifetime crash is coming. In his latest interview, he has not changed his view, stating that although the bubble has not burst yet, what may be coming is a crash even larger than the 2008 financial crisis. The US stock market is expected to face an epic crash, with Nvidia plummeting by 98%.
In recent years, the US stock market has continuously hit new highs, with the Nasdaq Composite Index soaring over 16% so far this year, the S&P 500 Index rising over 13%, and the Dow Jones Industrial Average increasing by 3%. The AI chip giant Nvidia has surged over 152% so far this year, with a market value exceeding 3 trillion US dollars. However, Harry Dent predicts that when the bubble finally bursts, the S&P 500 Index may drop by 86% from its peak, the Nasdaq Composite Index may drop by 92% from its peak, and although Nvidia is a hero-level stock and a great company, its stock price will drop by 98%, and everything will come to an end.
The only change Harry Dent made was the timing of the crash, pointing out that the market bottom may occur at some point between early 2025 and mid-2025. Due to the belief that the “mother of all bubbles” will burst, Harry Dent recommended investors to withdraw funds from the stock market in December of last year. He also said that if there must be a new investment target, he would choose Bitcoin.
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