The bestselling author of "Rich Dad, Poor Dad," Robert Kiyosaki, has once again warned that soon "everything will collapse," including gold, silver, and bitcoin. In the interim, bitcoin and ether will continue to decline as part of a technical correction. He did, however, say that he sees market crashes as a good purchasing opportunity and that he will continue to buy bitcoin.
Robert Kiyosaki, the author of "Rich Dad, Poor Dad," reiterated his caution on market crashes. Kiyosaki and Sharon Lecter co-authored the 1997 book Rich Dad, Poor Dad. It has spent more than six years on the New York Times bestseller list. More than 32 million copies of the book have been sold worldwide in more than 51 different languages.
Kiyosaki tweeted that everything, including gold, silver, and bitcoin, will soon fall because more than 144,000 workers in the computer business lost their jobs in 2022 and another 66,000 will be laid off this year. He advised his followers not to worry, though, and added that he would spend "false" dollars to purchase bitcoin, gold, and silver, which he believed to be "genuine money."
"There has already been a crash. Everything, including the prices of gold, silver, and bitcoin, will collapse. Don't panic. There is good news. I'll purchase additional bitcoin, gold, and silver to replace the false currency," Kiyosaki wrote.
Notably, Kiyosaki stated that the US dollar is fake money since it is not linked to genuine money, such as gold, whereas gold, silver, and Bitcoin are real currencies. The well-known author has already said that he has no faith in Wall Street, the Treasury Department, the Federal Reserve System, or the Biden administration. Additionally, he has frequently issued market crash warnings, including one for the "largest crash in world history." He advised investors to buy gold, silver, and bitcoin in October of last year, predicting that the stock, bond, and real estate markets would crash as long as the Federal Reserve kept raising interest rates. However, as you can see, there hasn't been a global financial crisis, and the American economy is gradually beginning to recover from excessive inflation, which has given the central bank hope that rates can be reduced soon.
A renowned author also foresaw the demise of the US currency last October, claimed that the economy is in a recession, and foresaw a sharp rise in bankruptcies, unemployment, and homelessness.
Regarding the technological state of bitcoin right now, it is still under a lot of pressure. The trading instrument may probably experience another significant sale after missing the $21,700 mark. Only after the return and consolidation around $22,580, which will reinstate the positive trend with the possibility of updating $23,350 and $24,000, will it be feasible to discuss the restoration of the buyers' initiative. The $25,034 level will be the farthest target, where significant profit-taking and a rollback of bitcoin may take place. The $21,700 level will need to be protected if the pressure on the trading instrument continues because a breach would be detrimental to the asset. This will put pressure back on bitcoin and create a direct path to $20,740. The first cryptocurrency ever created will "drop" in this location along with $19,770 if this level is broken.
Buyers of ether are now looking for the return of the nearest resistance level of $1,521, which they missed earlier this week. This will be sufficient to balance the situation and eliminate the threat of a new and larger sale. Only after fixing above $1,604 and $1,690, which would return the balance to the ether with the possibility of growth to a maximum of $1,758, will it be feasible to establish a foothold at the highs and continue the positive trend. The $1,819 level will be a more distant target. The $1,410 level will be in play if the pressure on the trading instrument increases and the price falls even more, below which $1,320 is expected. The trading instrument will reach a minimum price of $1,260 as a result of its innovation, which will be painful for cryptocurrency owners.
