Time for Plan Bitcoin: veteran Trader stock market fears collapse, as in 1929

The popular financial analyst Peter Brandt suggests that the stock market is forming a rising wedge, and soon would collapse.
If you stay some time in the crypto-currency space, you have probably heard already from Peter Brandt. Brandt has been working since 1980 as a traditional financial analyst and has turned in the last few years the crypto-currencies, and heated.
Last month, Brandt wrote on Twitter, one should consider Bitcoin as “insurance” and not as mere investment. Now he has issued a grim warning for the Mainstream financial markets.

The Crash of 1929 is repeated on the stock markets?

Brandt’s Tweet, the Dow Jones is forming a rising wedge and seems to be willing to start at the beginning of his downward spiral.
The rising wedge is similar to what the Dow Jones was recorded in the years 1929-30, shows Brandt with a Chart. The current Situation reflects the market movements of 1929.
In this case, we could expect a crash in the markets this summer. In this recent Tweet, he compares the markets of today and of the 1929 side-by-side.

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The Situation depends, however, fully convinced that the Fed is supporting this market. As some analysts say, the financial markets are less representative of the real economy.
Instead, they have become more than anything a mirror of the actions of the Fed.
Some market observers comment that massive setbacks collapse during a Market usual. In 1929, the Dow fell by around 50%, then recovered back to 40% and fell in the next few years, to 85%. If Brandt is right, could result in a similar Situation.

The economic Outlook remains uncertain

Although the IMF hopes to have a v-shaped recovery, the macroeconomic Situation is quite different.
In the past week, a further 4.4 million Americans have filed unemployment. The total number of redundancies has increased within only five weeks to 26 million. The financial markets have not reacted to the message, and continued instead, their slight recovery.
Many commentators are now warning that the “re-opening” of the economy is a “sell-the-news”-could be event. This is because people will not come back for a re-opening of the economy to their old consumption habits.
The profitability will continue to stagnate, and it is unclear how long the majority of the companies of the storm can withstand.
If Brandt is right, then we are far from the Worst of this ongoing economic crisis, which has only just begun, in the global supply chains will be felt. The financial markets will need to this reality soon set – Brandt would agree with that probably.
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