The cryptocurrency world is once again in turmoil, with alarming predictions in the spotlight. Renowned author and businessman Robert Kiyosaki has predicted a collapse for Bitcoin and precious metals, citing US President Donald Trump's tariff policies as the cause.
He believes that the implementation of tariffs by Washington will have a severe impact on the global economy.
To recall, on January 31, the US president imposed 25% tariffs on goods from Canada and Mexico. The hefty tariffs took effect on Saturday, February 1. Experts warn that this move will seriously impact the US economy, causing a sharp rise in inflation levels. However, Kiyosaki estimates that the consequences of Trump's decision will go beyond rising prices for goods. He is certain that the cryptocurrency and precious metals markets will collapse, with the stock market following suit. The global economy will be on the brink of collapse. The good news, however, is that "CRASHES mean assets are on sale. Time to get richer," Kiyosaki concluded.
The gloomy outlook of the American writer has already started to unfold, as the price of Bitcoin has fallen again. On February 2, BTC traded below $100,000. However, due to low trading volumes, it is difficult for bears to break through the lower boundary of the shrinking triangle pattern. As a result, experts believe that BTC is unlikely to dip below $98,800 but is likely to rise to $104,000 as part of a bullish correction.
Many analysts and market participants disagree with Kiyosaki's prediction. They believe that tariffs will not drag Bitcoin and gold prices down, as both retail and institutional investors will probably buy these assets to protect their savings from inflation.
However, Kiyosaki's prediction is supported by data showing that demand for BTC increases as inflation rises. Furthermore, financial uncertainty in the United States is driving the flagship asset lower. Therefore, if high tariffs lead to significant economic shifts, the first cryptocurrency could suffer heavy losses.
