Best-selling author Robert Kiyosaki offered his followers a \u201cRich dad lesson\u201d on Bitcoin. Via his official Twitter account, the writer made a distinction between \u201cwinners\u201d and \u201closers\u201d in the crypto market.<\/p>\n
Related Reading |\u00a0Reports: FTX Targeting BlockFi Purchase At $25M<\/p>\n
At the time of writing, Bitcoin has lost major support as it broke below $20,000 and it\u2019s 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.<\/p>\n
BTC\u2019s price trends to the downside on the 4-hour chart. Source: BTCUSD Tradingview<\/p>\n
At those levels, the Rich Dad Poor Dad author was a buyer and seemed more enthusiastic about BTC\u2019s price future appreciation. Now, he has made a 180 degrees shift in his speech publicly bashing those investors which he classified as \u201closers\u201d.<\/p>\n
Kiyosaki\u2019s full message is rather grim, and might be aiming for an impossible level, for Bitcoin to crash all the way down to $1,100:<\/p>\n
RICH Dad lesson. \u201cLOSERS quit when they lose.\u201d\u00a0 Bitcoin losers are quitting some committing suicide.\u2019WINNERs learn from their losses. I am waiting for Bitcoin to \u201ctest\u201d $1100. If it recovers I will buy more. If it does not I will wait for losers to \u201ccapitulate\u201d quit then buy more.<\/p>\n
In the past, Kiyosaki highlighted $20,000 as the \u201cbuy the dip\u201d level. The author called the cryptocurrency a hedge against inflation and called the BTC\u2019s price crashing \u201cgood news\u201d and predicted a \u201ctime to get richer\u201d by increasing his holdings.<\/p>\n
The author was bullish on BTC and precious metals, but it\u2019s unclear what has caused him to shift his views. On a different occasion, Kiyosaki foresaw the start of a depression, preceded by a \u201cgiant crash\u201d across global markets.<\/p>\n
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:<\/p>\n
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.<\/p>\n
Should You Listen To Robert Kiyosaki?<\/p>\n
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\u2019s price prediction.<\/p>\n
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.<\/p>\n
Kiyosaki\u2019s market predictions across the past decade compared to the S&P 500. Source: Fintwit via Twitter<\/p>\n
Related Reading |\u00a0TA: Bitcoin is Plunging, But It\u2019s Too Early to Say Bulls Have Given Up<\/p>\n
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.<\/p>","protected":false},"excerpt":{"rendered":"
<\/p>\n
Best-selling author Robert Kiyosaki offered his followers a \u201cRich dad lesson\u201d on Bitcoin. Via his official Twitter account, the writer made a distinction between \u201cwinners\u201d and \u201closers\u201d in the crypto market.<\/p>\n
Related Reading |\u00a0Reports: FTX Targeting BlockFi Purchase At $25M<\/p>\n
At the time of writing, Bitcoin has lost major support as it broke below $20,000 and it\u2019s 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.<\/p>\n
BTC\u2019s price trends to the downside on the 4-hour chart. Source: BTCUSD Tradingview<\/p>\n
At those levels, the Rich Dad Poor Dad author was a buyer and seemed more enthusiastic about BTC\u2019s price future appreciation. Now, he has made a 180 degrees shift in his speech publicly bashing those investors which he classified as \u201closers\u201d.<\/p>\n
Kiyosaki\u2019s full message is rather grim, and might be aiming for an impossible level, for Bitcoin to crash all the way down to $1,100:<\/p>\n
RICH Dad lesson. \u201cLOSERS quit when they lose.\u201d\u00a0 Bitcoin losers are quitting some committing suicide.\u2019WINNERs learn from their losses. I am waiting for Bitcoin to \u201ctest\u201d $1100. If it recovers I will buy more. If it does not I will wait for losers to \u201ccapitulate\u201d quit then buy more.<\/p>\n
In the past, Kiyosaki highlighted $20,000 as the \u201cbuy the dip\u201d level. The author called the cryptocurrency a hedge against inflation and called the BTC\u2019s price crashing \u201cgood news\u201d and predicted a \u201ctime to get richer\u201d by increasing his holdings.<\/p>\n
The author was bullish on BTC and precious metals, but it\u2019s unclear what has caused him to shift his views. On a different occasion, Kiyosaki foresaw the start of a depression, preceded by a \u201cgiant crash\u201d across global markets.<\/p>\n
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:<\/p>\n
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.<\/p>\n
Should You Listen To Robert Kiyosaki?<\/p>\n
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\u2019s price prediction.<\/p>\n
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.<\/p>\n
Kiyosaki\u2019s market predictions across the past decade compared to the S&P 500. Source: Fintwit via Twitter<\/p>\n
Related Reading |\u00a0TA: Bitcoin is Plunging, But It\u2019s Too Early to Say Bulls Have Given Up<\/p>\n
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.<\/p>\n
<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-2372","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/2372","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=2372"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/2372\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=2372"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=2372"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=2372"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}