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Expert Who Predicted Crypto Crash Believes This Is a Better Investment

Nidhish Shanker - Coingape
2022-07-14 14:25
Peter Grandich, one of the most sought-after investment authorities, revealed in an interview with Kitco that he is 100% long on Uranium, Gold, Silver, and Copper stocks. In a blog post, Grandich revealed that he sold various positions at a loss to invest in the Arizona Metals Corp. AMC is currently up by 8.36%.
While Copper and Gold prices are currently down, Grandich recently revealed that to be a victim of the general selloff rather than its cause.

Peter’s Stance On Crypto

Grandich also revealed that he would not even consider investing in cryptocurrencies, which he has previously called the Tulip Mania of the 21st Century. Bitcoin is currently trading at $19,745, significantly down from its all-time high of $ 67,500.
Peter Grandich revealed last year that he is not interested in owning any general equity, bonds, or crypto. Grandich does however believe that blockchain technology has real potential. He believes that blockchain will result in some high potential companies, similar to the internet bubble.

Grandich Predicts Recession, Housing Crash

In the interview, Grandich revealed that a housing crash would be the next domino to fall in the “everything bubble” after bursting in stocks, bonds, and cryptocurrencies. He expects a 20%-40% housing crash at a rapid pace.
He also answered the concerns regarding the recession in the US market. According to Grandich, the US is already in a recession. Grandich is not alone in his prediction.
The Atlanta Fed revealed that their GDPNow model shows a negative growth of 2.1% in the second financial quarter. The GDP growth in the first quarter was already revealed to be at -1.8%. This points to two consecutive quarters of negative GDP growth. Most experts agree that this is the rule-of-thumb definition of a recession.
Recently, the Bloomberg Recession Predictor also revealed a 38% likelihood of a recession within the next 12 months.
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