In this, the writer has said that he is still positive about the future of the first cryptocurrency in the long term

Robert Kiyosaki allowed the possibility of the bitcoin price to collapse to $9 000

20.05.2022 - 13:05

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3 min

What’s new? The investor and author of the bestseller “Rich Dad Poor Dad” Robert Kiyosaki admitted that the price of bitcoin could drop to $20 000, $14 000, or even $9 000. He added, however, that he is optimistic about the first cryptocurrency. Kiyosaki wrote this on Twitter.

What else does Kiyosaki say? The entrepreneur said that he is still positive about bitcoin’s long-term future. He also called the Federal Reserve System (Fed) and the US Treasury corrupt organizations. “They will self-destruct before they regain honesty, integrity, and moral compass,” Kiyosaki concluded.

Back in late 2021, the writer criticized the Fed. In his view, the agency’s actions exacerbate inflation and bring the markets closer to collapse.

What events happened before? On May 12, Kiyosaki calledthe drop in the price of bitcoin “great news.” He noted that he had previously intended to buy BTC when its price fell to $20 000, but now expects an even bigger drop from the asset. The writer added that the market “crashes are best times to get rich.”

At the end of March, he revealed that he preferred bitcoin to precious metals so as not to suffer losses due to inflation. Later, Kiyosaki predicted the collapse of the dollar amid an unstable geopolitical situation in the world and called for buying more gold, silver, and cryptocurrencies.

Analysts’ predictions. On May 16, the head of the brokerage firm Euro Pacific Capital Inc. Peter Schiff said that the bitcoin rate is heading toward the $8 000 mark as its support line has been broken.

Raoul Pal, a former employee of the investment bank Goldman Sachs, believes that May will be a tough one for the digital asset market. In his view, cryptocurrencies are facing a “nasty recession” and “liquidation write large.” He is confident that the drop in global market demand is because of the US Federal Reserve System’s (Fed) tighter monetary policy. Although the crypto market is in “full panic mode,” the analyst called cryptocurrencies a “long-term investment.”

For more on the most negative predictions for bitcoin’s price movements, see GetBlock Magazine’s article.

Author:

Tatiana Darda Tatiana Darda

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