Recently, market analysts have been increasingly warning investors of the rapidly approaching stock market crash. These predictions have recently been supported by new details. The bubble explosion will happen in October and will severely hit the cryptocurrency industry and the bullion market.
Some experts even claim that the US stock market may experience a more dangerous bubble explosion than it was after the massive collapses of 1929 and 2000.
In Tuesday's trading session, US stocks reached their lowest levels since May. The technology sector stocks suffered the most. However, the leading US stock indices are showing strong growth again. Over the last year, the leading stock indicator S&P 500 rose by more than 30%.
Why are analysts so sure that the positive trends in the stock market will soon be replaced by its massive collapse?
Famous writer and investor Robert Kiyosaki commented on his Twitter: "Giant stock market crash coming October. Why? Treasury and Fed short of T-bills. Gold, silver, Bitcoin may crash too. Cash best for picking up bargains after crash. Not selling gold silver Bitcoin, yet have lots of cash for life after stock market crash. Stocks dangerous. Careful."
Kiyosaki has also recently commented on China's crackdown on cryptocurrency. Last week, China's decisive actions caused the value of bitcoin to fall below $41,000.
Kiyosaki assumes the US to follow China's steps and outlaw BTC the US will soon become a centralized state like the PRC. "US communism begins, our freedoms end. Take care," Kiyosaki twitted.
While addressing the Senate Banking Committee, Federal Reserve Chairman Jerome Powell suggested that the US Congress join in developing a digital dollar. Powell said that the laws that control the Federal Reserve could act as the basis for issuing CBDC. However, he said that Congress would ideally take the lead in the implementation of the project.