Charles Nenner is a geopolitical and financial cycle expert who predicted a market plunge for 2020 and domestic civil unrest instead of war in foreign lands. He said this in January 2020, and he was right about what came next.
This guy seems to know what is talking about. He called 2020 by much exactly as it turned out. Now that we are in 2021, is get some more predictions for the market. He looked at charts going all the way back to 1929 and saw how the trendline progressed up to this year spelling out a very high risk for the market at this point.
“ I have a chart going back to the 1900’s, and if you connect all the tops, the tops of 1929, top in the 1960’s, 1987,...we are up to the trend line again..."
"It seems very, very unusual to break a trend line that dates back for 100 years. So, risk is very high...
We are totally out of the market...We have been out for three or four weeks...
We have the same thing as before. People are more afraid to miss 4% on the upside than 50% on the downside. That’s human nature.”
Very poignant statement about FOMO. People don't want to miss out on a possible opportunity to make some gains and just keep pumping this market higher and higher. They are not looking at how high it actually is and the likelihood that it's going to fall 50% from where it is now.
Nenner sees the market getting cut in half. He also thinks bitcoin is topped out as well. As far as he's concerned the top we had it $64,000 isn't going to be broken anytime soon. Probably not for a few years.
“I have no higher price target. We might have a new up cycle, but I don’t think the top ($64,000) is going to be taken out for a long time.”
I don't agree on BTC. If the legacy financial market is in a tank, people are going to look for another place to put their assets and hedge against inflation or deflation. Crypto seems like a likely target, but then so does gold, silver and other precious metals. I guess we'll find out in the next few months went ends up happening.
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