Rich Dad, Poor Dad Author Changes His Mind About Bitcoin? BTC Crashes To $23K

The crypto marketplace is successful turmoil arsenic Bitcoin, Ethereum, and different larger cryptocurrencies instrumentality to levels past seen successful 2020. The fig 1 crypto by marketplace headdress mislaid captious enactment and descended to the little country of its existent levels.

Related Reading | Bitcoin Long-Term Holders Realize March 2020-Like Losses As BTC Crashes

At the clip of writing, Bitcoin trades astatine $23,300 with a 16% and 22% losses successful the past 24-hours and 7-days, respectively. As the macro-economic outlook seems bleak, with an summation successful ostentation and U.S. Federal Reserve (FED) acceptable astatine stopping it, conditions look to favour the bears.

BTC trends to the downside connected the 4-hour chart. Source: BTCUSD Tradingview

As a effect of the caller downside terms action, immoderate Bitcoin supporters person flipped and turned their attraction to antithetic assets. Robert Kiyosaki, the best-selling writer of the fiscal publication “Rich Dad, Poor Dad”, could beryllium counted successful this group.

Kiyosaki has been a semipermanent Bitcoin supporter. In 2021, helium recommended his assemblage bargain Bitcoin to hedge against a imaginable economical recession.

At the time, the writer claimed that a “giant crash” and a “new depression” could deed the U.S. economy. The emergence successful U.S. dollar inflation, on with an summation successful involvement rates from the U.S. Federal Reserve (FED), hint astatine economical hurdles.

But Kiyosaki mightiness not person stuck to his ain advice, helium posted the pursuing via his idiosyncratic Twitter account:

Best INVESTMENT:  Cans of Tuna Fish. Inflation astir to instrumentality off.  Best investments are cans of tuna & baked beans. You can’t devour gold, silver, oregon Bitcoin. You tin devour cans of tuna and baked beans. Food astir important. Starvation adjacent problem. Invest successful the solution. Take care.

Some radical replied believed Kiyosaki mightiness person been joking. Others look to person taken the proposal to bosom arsenic they judge the planetary system is astir to participate a acheronian time.

Bitcoin Levels Of Support And Resistance

However, Kiyosaki already predicted a clang that could pb to an economical depression. Back successful 2021, helium said:

BIDEEN & FED request ostentation to forestall New Depression. Inflation rips disconnected the poor. Inflation makes affluent richer. Biden and Fed corrupt. Prepare: Giant clang past caller depression. Be astute Buy, gold, silver, Bitcoin.

The fundamentals that prompted Kiyosaki to spot BTC arsenic a bully concern look to beryllium valid: the cryptocurrency is simply a mode to opt retired of the FED-controlled system and summation much fiscal freedom.

Related Reading | Bitcoin Weekly RSI Sets Record For Most Oversold In History, What Comes Next?

At the clip of writing, Bitcoin’s bid publication connected Binance looks bladed successful either direction. There are $7 cardinal successful bids astir $22,000 and $11 cardinal successful asks orders astatine $26,500. A interruption beneath oregon supra either could find BTC’s terms adjacent trend.