Robert Kiyosaki Keeps Calling For The Collapse Of Fiat Money
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Fed, ECB, and BA continue to tighten monetary policy
It is even more encouraging to note on the 4-hour TF that bitcoin came very close to the level of $24,350 but was unable to pass it and did not even make a direct attempt to move higher. Although there was no obvious rebound from this point, the cryptocurrency may continue to put its stability to the test. However, we think that it is much more likely that it will fall below $18,500 (at least). This is supported by several global variables at once. First off, as the Fed, ECB, and BA continue to tighten monetary policy, safe assets become more alluring. Second, the QT (quantitative tightening) policy is causing the US money supply to continue to contract, which lowers the amount of potential investments. Remember that throughout the pandemic, Bitcoin was rapidly increasing, not because of the disease itself, but rather because numerous central banks around the world were actively boosting their economies by releasing hundreds of millions or billions of dollars in new money. Since there was constantly more money in the economy, it was obvious that it needed to be used in some way. Some of them chose the market for cryptocurrencies. The situation is entirely different right now.
Robert Kiyosaki
At the same time, well-known publicist and businessman Robert Kiyosaki keeps calling for the collapse of fiat money, a major global economic catastrophe, and the collapse of the global financial system. The world's central banks are still printing billions of dollars, and their currencies will keep losing value, according to Kiyosaki. Silver will cost $500, gold will rise to $5,000, and bitcoin will reach $500,000. In addition, Kiyosaki predicted that sooner or later, people will stop believing in the dollar and turn to bitcoin as "a currency for people." Remember that the bestselling author of "Rich Dad, Poor Dad" has already predicted the collapse of the world financial system. Both the previous year and this year, he made the same prediction. He does not recall the QT program for some reason, and he is uninterested in the fact that despite bitcoin's existence for 15 years, it has not yet been used as a form of payment by individuals. We think that this is just another attempt to "pump" Bitcoin to make it grow artificially. Remember that many experts who do not personally own bitcoin still think of it as a very dangerous and volatile investing tool. Cryptocurrency owners themselves will undoubtedly always talk about how much it will be worth in the near future.
Bitcoin
The bitcoin cryptocurrency has distanced itself from recent highs on a 4-hour time frame by roughly $3,000 and so far does not appear particularly motivated to start growing again. The inflation report released today may have a significant influence on cryptocurrencies. Given that two inflation reports cannot double the value of bitcoin, we believe it will continue to fall. The most recent growth cycle appears to have been an unsuccessful attempt to accelerate growth. The bulls were unable to surpass the crucial $24,350 mark.
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