Economist Harry Dent, founder of HS Dent, has issued another stark market warning, arguing that global financial markets could face what he described as the worst crash in history by 2026. Speaking on David Lim’s show on December 22, Dent said a market bubble that has expanded over roughly 17 years is nearing a breaking point, with risks spanning equities, real estate, and digital assets.
A long-building bubble under pressure
Dent’s view is centered on the idea that years of speculative excess have pushed multiple asset classes far beyond sustainable levels. In his assessment, stocks, property, and crypto have all been inflated by aggressive risk-taking and easy money conditions. If that excess unwinds fully, he believes equities could suffer declines of as much as 90%, a scenario he uses to support his warning of a historic collapse.
Bitcoin and altcoins in the firing line
On crypto specifically, Dent singled out Bitcoin, forecasting a move down to around $30,000 by 2026. He added that, in a more severe sell-off, the price could slide further to $15,600. He also argued that altcoins are part of a debt-fueled “super bubble,” suggesting that any major reversal in liquidity conditions could trigger even sharper losses across the broader digital asset market.
AI stocks also flagged as speculative
Beyond crypto, Dent said AI-related stocks are showing signs of a late-stage speculative frenzy. In his view, the rapid rise in these names reflects momentum and sentiment more than durable fundamentals, leaving them vulnerable if investors begin to pull back from risk-heavy trades.
His comments represent a personal macro outlook rather than a market consensus. For investors, the main takeaway is not necessarily the exact price targets, but the broader warning that stretched valuations and speculative behavior across multiple sectors could amplify downside risk if financial conditions tighten.