“Rich Dad, Poor Dad” author Kiyosaki on when and why you should buy Bitcoin
Bestselling business author and financial markets expert Robert Kiyosaki once again share His views on bitcoin and some other assets are based on his harsh criticism of the Fed.
According to Kiyosaki, the Fed is screwed and will continue to raise rates, which will cause commodity assets and Bitcoin to fall. During this period, it is necessary to buy these assets, the author believes. Further, according to Kiyosaki, in January 2023, the Fed will turn around and start to reduce the rate, which will cause the collapse of the dollar and the growth of Bitcoin, silver and gold.
If you take this opportunity, the moment everyone cries, you might smile because you haven’t fallen victim to the Fed, the authors concluded.
Current state of crypto market
At the moment, the situation on the crypto market is uncertain. On the one hand, October began, which traditionally proceeded with optimism on the background of an usually negative September and was, therefore, called Uptober.
The Fed’s strict monetary policy, on the other hand, is trying to curb historically high inflation, so it is inappropriately tied to the cryptocurrency market. This week, we have several events and speeches from Federal Reserve officials, which have always been filled with heightened volatility.
Among other things, additional pressure on cryptocurrencies is now coming from Credit Suisse, a large banking conglomerate, rumors of whose possible bankruptcy have emerged today.
