Famous author and entrepreneur Robert Kiyosaki shared his thoughts on the crypto market, warning of a possible crash ahead.
SOFT LANDING or CRASH LANDING. I hope I am wrong….yet I am prepared for the biggest market crash in world history.
Q: WHY am I preparing for a crash
Landing?A : BECAUSE if I am right…a crash and possible Depression will make myself and those that are prepared very,…
— Robert Kiyosaki (@theRealKiyosaki) August 14, 2024
Despite BTC’s resurgence in the last 24 hours, danger still looms, with investors fearing potential selloffs. Moreover, the Crypto Fear and Greed Index currently signals fear, supporting this assumption.
Robert Kiyosaki Cautious of Current Crypto Market Cycle
In an August 14 X post, Kiyosaki, a staunch Bitcoin supporter, shared his forecasts for the crypto market outlook. He highlighted the possibility of the biggest crash in world history.
Kiyosaki calls this crash an economic depression and emphasizes the importance of early preparation. He believes such a crash will make him and others prepared for it extremely rich.
Also, the bestseller author stated that most people are too lazy and hope that the three entities running America will save them. He claimed that the current US Vice President, Kamala Harris, Secretary Janet Yellin, and Central Bank chair, Jerome Powell, controlled the US economy.
Interestingly, Kiyosaki’s predictions also align with his July forecast, in which he predicted the biggest crash in history. He noted that prices of stocks, bonds, real estate, gold, silver, and Bitcoin will crash.
BOOM GOiNG BUST:
Technical charts indicate biggest crash in history coming. Prices of real estate, stocks, bonds, gold, silver, & Bitcoin crash.
GREAT NEWS: Good time to buy bargains will follow.
Technical charts indicate major long term bull market cycle will…
— Robert Kiyosaki (@theRealKiyosaki) July 3, 2024
However, Kiyosaki calls this crash a good buying opportunity that could pave the way for a long-term bull market cycle. According to his predictions, the bull market cycle will likely begin in late 2025 and raise the asset’s price for years.
Also, Kiyosaki predicted a decline in the value of the US dollar to favor these assets, with Bitcoin eventually rising to $10 million each.
Remember, these remarks are Kiyosaki’s personal opinions, and there is no guarantee that such events will occur due to the unpredictable financial markets.
Reactions to Robert Kiyosaki’s Forecasts
Responding to Kiyosaki’s market crash predictions, Web3 enthusiast Aj noted that many people share similar concerns due to several global uncertainties.
‼️ Your concerns about a potential market crash are shared by many, especially with global uncertainties. 🌍 While predicting a crash is tough, there are reasons to prepare, like rising interest rates 📈, geopolitical tensions 🌐, and lingering pandemic effects 🦠.
However, it’s… pic.twitter.com/UVeSIi03gL
— Aj (@AIFuturenama) August 14, 2024
He highlighted the macroeconomic concerns as reasons people must prepare for a potential market crash. These include rising interest rates, the lingering effects of the pandemic, and geopolitical conflicts.
However, Aj noted that depressions are rare, with complex causal factors that are mostly hard to predict. He explained that events like the great depression in the 1930s and the 2008 financial crisis were triggered by specific, unforeseeable factors.
He concluded that while preparation is vital, predicting the exact outcome of such meltdowns is challenging.
Aj also stated that most economies can bounce back before a depression occurs. He urged his followers to keep a balanced view of events as the future holds both challenges and opportunities.
Meanwhile, trader Chetan Kaul was quite critical of Kiyosaki’s statements. Kaul stated that Kiyosaki had predicted a market crash for his entire career, and his words were meaningless. He dismissed the predictions as a strategy by Kiyosaki to sell books.
You’ve basically been predicting a crash your entire career. Your words are meaningless. Going to need a new strategy to sell books.
— Chetan Kaul (@chetan_kaul) August 14, 2024
On the other hand, crypto enthusiast Danny Balboa agreed with Kiyosaki’s predictions, but he maintained that the market would not crash if enough people believed. Further, Balboa stated that even if a crash occurs, it will not be as severe as projected.
If enough people believe and prepare for a crash, then there won’t be a crash, at least not to the degree they’re hoping for.
Remember the ones who profited most off the Gold rush were the ones selling shovels.— Danny Balboa (@BalboaCap) August 14, 2024
Disclaimer: The opinions expressed in this article do not constitute financial advice. We encourage readers to conduct their own research and determine their own risk tolerance before making any financial decisions. Cryptocurrency is a highly volatile, high-risk asset class.
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