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<div class="finbold"><p class="paragraph">Amid continuous warnings from finance experts and prominent investors alike on the bleak state of the economy in the United States, along with predictions of its even bleaker future, recent data has shown that the bankruptcy <a href="https://thebittimes.com/tag/filings.html" rel="noopener noreferrer nofollow">filings</a> in the country are reminiscent of the previous crises.</p><div></div><p class="paragraph">As it happens, the amount of <a href="https://thebittimes.com/tag/filings.html" rel="noopener noreferrer nofollow">filings</a> for bankruptcy protection in the US has recently reached “<a href="https://thebittimes.com/tag/dangerous.html" rel="noopener noreferrer nofollow">dangerous</a><a href="https://thebittimes.com/tag/levels.html" rel="noopener noreferrer nofollow">levels</a>,” similar to those during the Great Recession in 2008 and the beginning of the COVID-19 pandemic in 2020, according to the information shared by user <em>WhaleWire</em> in an X post on September 24.</p><figure class="wp-block-image aligncenter"><img src="https://thebittimes.com/image/getimage/?url=https://lh5.googleusercontent.com/1iv1lpG8BpUy-UhMQRDZC4P_a2yaj-ibPdZpa1L17gSGOG8Xx4QwR8DjtBrhFO8KATX_nyLRSNmNwLREymA22cm0PCSYrFi0Y3yqGZH52Z4IuJGmaeItr0djJHbdkXjzc30FC7NoihAVYeY321bwj7I" alt=""><figcaption class="wp-element-caption"><em>US bankruptcy filings 4-week moving average. Source: </em><em>WhaleWire</em></figcaption></figure><p class="paragraph">According to the expert’s findings, such levels typically indicate a massive crisis in preparation, including a possible crash of the stock market, as similar situations have happened before, both in 2008 and 2020. Specifically:</p><blockquote class="wp-block-quote"><p class="paragraph">“This indicator often suggests that the economy isn’t performing well, and has historically always been followed by massive stock <a href="https://thebittimes.com/tag/market.html" rel="noopener noreferrer nofollow">market</a><a href="https://thebittimes.com/tag/crash.html" rel="noopener noreferrer nofollow">crash</a>es.”</p></blockquote><h2 class="wp-block-heading" id="h-end-of-american-empire">‘End of American Empire’?</h2><div class="not-prose relative overflow-auto scrollbar-hide mb-8 mt-8"><div class="relative w-full flex gap-6 snap-x snap-mandatory overflow-x-auto"><div class="max-w-[300px]"><div class="py-0 first:pt-0 last:pb-0"><div class="flex gap-x-4"><div class="shrink-0 w-24"><img alt="" class=" w-full rounded-md lazy"></div><div> Cryptocurrency <h3 class="font-bold leading-6 " id="willy-woo-why-buying-bitcoin-on-exchanges-will-not-moon-the-price">Willy Woo: Why buying Bitcoin on exchanges will not ‘moon the price’</h3><div class="sm:flex gap-x-3 mt-2"></div></div></div></div></div><div class="max-w-[300px]"><div class="py-0 first:pt-0 last:pb-0"><div class="flex gap-x-4"><div class="shrink-0 w-24"><img alt="" class=" w-full rounded-md lazy"></div><div> Cryptocurrency <h3 class="font-bold leading-6 " id="invest-this-much-usd-daily-in-bitcoin-to-own-1-full-btc-in-a-year">Invest this much USD daily in Bitcoin to own 1 full BTC in a year</h3><div class="sm:flex gap-x-3 mt-2"></div></div></div></div></div><div class="max-w-[300px]"><div class="py-0 first:pt-0 last:pb-0"><div class="flex gap-x-4"><div class="shrink-0 w-24"><img alt="" class=" w-full rounded-md lazy"></div><div> Cryptocurrency <h3 class="font-bold leading-6 " id="should-india-adopt-bitcoin-btc-is-up-74-against-the-indian-rupee-in-2023">Should India adopt Bitcoin? BTC is up 74% against the Indian Rupee in 2023</h3><div class="sm:flex gap-x-3 mt-2"></div></div></div></div></div><div class="max-w-[300px]"><div class="py-0 first:pt-0 last:pb-0"><div class="flex gap-x-4"><div class="shrink-0 w-24"><img alt="" class=" w-full rounded-md lazy"></div><div> Cryptocurrency <h3 class="font-bold leading-6 " id="this-is-how-centralized-bitcoin-mining-has-become-over-the-years-report">This is how centralized Bitcoin mining has become over the years – Report</h3><div class="sm:flex gap-x-3 mt-2"></div></div></div></div></div><div class="max-w-[300px]"><div class="py-0 first:pt-0 last:pb-0"><div class="flex gap-x-4"><div class="shrink-0 w-24"><img alt="" class=" w-full rounded-md lazy"></div><div> Cryptocurrency <h3 class="font-bold leading-6 " id="this-model-identifies-next-bitcoin-ath-and-price">This model identifies next Bitcoin ATH and price</h3><div class="sm:flex gap-x-3 mt-2"></div></div></div></div></div></div></div><div class="mb-4 bg-slate-50 rounded-md layout-adjustment"><div id="finbold.com_middle"></div></div><p class="paragraph">Meanwhile, one of the prominent investors sounding the alarm on the US economy is Robert Kiyosaki, who has warned of the impending “end of the American Empire” through the demise of the US dollar, which, in his view, is no longer going to be the reserve currency of the world.</p><p class="paragraph">As a way to protect oneself against the looming economic downfall, the author of the best-selling personal finance book <em>‘Rich Dad Poor Dad’ </em>has long recommended investing in alternative assets like cryptocurrencies, particularly Bitcoin (BTC), arguing that “crypto is the future” in the world where fiat money is “fake.”</p><p class="paragraph">More recently, Kiyosaki advised his followers to buy Bitcoin today, not tomorrow, as the flagship decentralized finance (DeFi) asset, along with gold and silver, in his view, remains a relatively cheap investment at this point in time, as Finbold reported. Indeed, Bitcoin was at press time trading at the price of $26,109, down 1.82% on the day and 2.24% across the week.</p><p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p><p class="paragraph"></p></div><p>Source: <a href="https://thebittimes.com/stock-market-to-crash-bankruptcy-filings-soar-to-dangerous-levels-tbt63898.html" rel="noopener noreferrer nofollow">https://thebittimes.com/stock-market-to-crash-bankruptcy-filings-soar-to-dangerous-levels-tbt63898.html</a></p>

Stock market to crash? Bankruptcy filings soar to ‘dangerous levels’

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