Why Rich Dad, Poor Dad Author Will Wait For Bitcoin To Drop To $1,100 Before Buying More
01 Juli 2022 - 12:00AM
NEWSBTC
Best-selling author Robert Kiyosaki offered his followers a “Rich
dad lesson” on Bitcoin. Via his official Twitter account, the
writer made a distinction between “winners” and “losers” in the
crypto market. Related Reading | Reports: FTX Targeting
BlockFi Purchase At $25M At the time of writing, Bitcoin has lost
major support as it broke below $20,000 and it’s currently trading
at $18,900 with a 6% loss in the last 24 hours. The cryptocurrency
has lost over 75% of its value since reaching an all-time high at
$69,000. At those levels, the Rich Dad Poor Dad author was a buyer
and seemed more enthusiastic about BTC’s price future appreciation.
Now, he has made a 180 degrees shift in his speech publicly bashing
those investors which he classified as “losers”. Kiyosaki’s full
message is rather grim, and might be aiming for an impossible
level, for Bitcoin to crash all the way down to $1,100: RICH Dad
lesson. “LOSERS quit when they lose.” Bitcoin losers are
quitting some committing suicide.’WINNERs learn from their losses.
I am waiting for Bitcoin to “test” $1100. If it recovers I will buy
more. If it does not I will wait for losers to “capitulate” quit
then buy more. In the past, Kiyosaki highlighted $20,000 as the
“buy the dip” level. The author called the cryptocurrency a hedge
against inflation and called the BTC’s price crashing “good news”
and predicted a “time to get richer” by increasing his holdings.
The author was bullish on BTC and precious metals, but it’s unclear
what has caused him to shift his views. On a different occasion,
Kiyosaki foresaw the start of a depression, preceded by a “giant
crash” across global markets. The main trigger for this scenario is
the U.S. Federal Reserve (Fed) and its attempts to slow down
inflation, which is currently at a 40-year high. At that time,
Kiyosaki said: BIDEEN & FED need inflation to prevent New
Depression. Inflation rips off the poor. Inflation makes rich
richer. Biden and Fed corrupt. Prepare: Giant crash then new
depression. Be smart Buy, gold, silver Bitcoin. Should You Listen
To Robert Kiyosaki? Kiyosaki was almost right when he predicted
Bitcoin would reach an all-time high near $75,000. However, as
crypto users pointed out, he has been mostly wrong about his BTC’s
price prediction. As seen below, Kiyosaki has been talking about
this doomsday scenario for over a decade. In 2017, he tweeted about
a potential crash in the real estate market, this prediction
proceeded a major bull run in the sector. Related Reading
| TA: Bitcoin is Plunging, But It’s Too Early to Say Bulls
Have Given Up Therefore, it seems wise to take his words with a
grain of salt. The crypto market seems soft and susceptible to
macro-conditions, but for BTC to return to the $1,000 levels seems
unlikely.
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