The post Max Keiser is predicting a financial collapse in the United States: Will Bitcoin Price Rise? appeared on BitcoinEthereumNews.com.

While the S&P 500 and other U.S. indices are reaching new highs, this is largely happening due to the push from the top 10% of stocks. According to the Kobeissi Letter, the top 10% of stocks in the U.S. have contributed 75% to the total market value. Keiser predicts that regulatory pressure targeting Bitcoin ETFs and local Bitcoin miners will continue, and this could lead to government seizures. Bitcoin advocate Max Keiser is warning of a financial collapse reminiscent of the 1987 crash: How will BTC be affected? Is a Financial Collapse Expected in the U.S.? Earlier this month, the price of Bitcoin (BTC) rose above $50,000 after the successful launch of spot Bitcoin ETFs. However, despite the S&P 500 reaching historical highs by surpassing the 5,000 level earlier this month, macro indicators are sending warning signals. While the S&P 500 and other U.S. indices are reaching new highs, this is largely happening due to the push from the top 10% of stocks. Seven massive stocks like Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla have outperformed the performance of the remaining 493 companies listed in the S&P 500 index since reaching their latest low in October 2022, surging by almost 117%. According to the Kobeissi Letter, the top 10% of stocks in the U.S. has contributed 75% to the total market value. This is the highest level seen since the Great Depression of 1931. During the 2001 Dot-com bubble, the concentration of the top 10% of stocks reached approximately 72%. Before the 2008 Financial Crisis, the concentration of the top 10% of stocks peaked at around 66%. On average, the top 10% of stocks represent about 64% of the entire stock market. As a result, renowned Bitcoin advocate Max Keiser is warning of an impending financial collapse reminiscent of…

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Filed under: News - @ February 22, 2024 11:26 am