Financial advisor and bookwriter famed for “Rich Dad Poor Dad,” Robert Kiyosaki, has regained attention with his fresh insights regarding the current market downturn.
Robert Kiyosaki, a globally recognized financial analyst, has expressed his views on the recent market slump, suggesting that the warnings he’s been giving for years might be unfolding in real-time for all to witness. Notably, this comes as anticipation mounts over the upcoming release of the Federal Reserve’s FOMC Minutes.
Kiyosaki’s Take on the Market Crash
On Wednesday, Kiyosaki posted on X, reminding his audience about a book he published in 2013 called “Rich Dad’s Prophecy.” He stated that this book contained a prediction of a significant stock market crash, and he now believes that the current financial struggles are directly related to choices made during the 2008 financial crisis.
He particularly spoke against the decisions made by the previous Chair of the Federal Reserve, Ben Bernanke, whom he accused of putting bankers’ rewards ahead of the well-being of regular people.
Kiyosaki emphasized once more that the ongoing recession isn’t isolated to just one industry, rather it spans almost every sector – from real estate and retail to the automobile market. This, he suggested, indicates a deeper, underlying economic problem at play.
Regardless of the current circumstances, Kiyosaki argues that the present moment offers an unparalleled opportunity for investors to capitalize on market conditions. In part, he stated:
“…Time to be cool and be smart, while millions are panicking.”
Based on the advice of seasoned investors, market crashes present an ideal moment for accumulating wealth and advancing one’s financial standing – if you’re a savvy investor who knows how to capitalize on such opportunities.
Hope for Bitcoin
Despite the turmoil in the current crypto market, causing concern among many investors, Kiyosaki continues to stand firm in his conviction about Bitcoin’s future potential. Here are some key details about Bitcoin:
– Current Price: $95,333
– 24h Volatility: 5.5%
– Market Cap: $1.89 trillion
– 24h Volume: $64.97 billion
In simpler terms, when Bitcoin’s value dropped by about 6% today as per Kiyosaki, he considers this a positive development. His reasoning is that a drop in price implies people are selling Bitcoin. To him, this presents an opportunity to acquire more Bitcoin, suggesting it could be a good time for accumulation.
According to him, there are approximately “fewer than 2 million Bitcoins left to be mined.” Given this limited supply, it’s hard to argue against the fact that Bitcoin’s value is likely to significantly increase in the future.
Regardless of his optimistic outlook, it appears that the overall cryptocurrency market is still quite volatile, with a staggering $712 million worth of liquidations being reported just recently.
The upcoming FOMC Minutes release later today is causing a lot of uncertainty among traders. Additionally, crucial economic reports like the latest US job figures are keeping them on edge. Consequently, they’re proceeding with great care when handling the market.
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2025-01-08 16:31