‘No Middle Class Left,’ ‘Millions Will Be Wiped Out’ — Two Market Crash Predictions, Gas Cartels, and Whales Moving Mt Gox Coins: Bitcoin.com News Week in Review

In this week’s Bitcoin.com News Week in Review, a market strategist issues a terrible warning about the US economy and a major market crash that could cause a “50 to 60 percent haircut” in stocks. Furthermore, the Russian government is reportedly making moves to create a global gas cartel with Iran. These stories, as well as Robert Kiyosaki’s latest market predictions and news of a whale spending 10,000 bitcoins likely linked to the 2011 Mt Gox hack, are just below.

Market Strategist expects the stock market to drop 50% from here, says “there will be no middle class anymore”

Following Jerome Powell’s hawkish commentary at the annual Jackson Hole Economic Symposium, major stock indices, cryptocurrencies and precious metals have dropped in value significantly. Over $ 240 billion has been wiped out of the cryptocurrency market and the Crypto Fear and Greed Index continues to slide down, heading for “extreme fear”. Additionally, bubbatrading.com chief strategist Todd ‘Bubba’ Horwitz explains that Federal Reserve rate hikes during a recession will devastate what’s left of America’s middle class.

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Robert Kiyosaki says real estate, equity, gold, silver and bitcoin markets are collapsing – “Millions will be wiped out”

The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, has warned that all markets are collapsing, notably naming real estate, stocks, gold, silver and bitcoin. Referring to his previous prediction of a bigger crash than the 2008 financial crisis, Kiyosaki said: “That crash is here. Millions will be wiped out. “

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The report states that Russia and Iran intend to establish a global gas cartel, Moscow to launch its own precious metals exchange

Following the statements by Russian President Vladimir Putin in late June indicating that members of the BRICS nations have formalized plans to create a new “international reserve currency”, Russia is allegedly building the foundations of a global gas cartel with the ‘Iran. Financial journalist and best-selling author Simon Watkins says that “the alliance aims to control as much as possible the two key elements in the global supply matrix.” At the same time, Russia intends to create a precious metals exchange called the Moscow World Standard (MWS).

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Whale spends 10,000 BTC worth $ 203 million, bitcoins derive from the infamous 2011 Mt Gox Hack

In two days, the price of bitcoin fell to new lows in August, falling below $ 20,000 per region 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 unknown wallets after being inactive for nearly nine years. Onchain data shows that the 10,000 coins moved this week originally came from the Mt Gox breach that occurred on June 19, 2011.

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Tag in this story

bitcoin crash, gold crash, inflation, iran, market crash, middle class, Mt Gox, forecast, robert kiyosaki, russia, russian gas cartel, russian precious metals, dormant bitcoin, stock crash, stocks, Todd ‘Bubba ‘Horwitz, whale

What do you think of this week’s stories? Are the dire market forecasts 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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