“Rich Dad Poor Dad” author predicts dollar’s fall by January 2023 will spark crypto rally
Robert Kiyosaki, author of the best-selling investment book “Rich Dad Poor Dad,” predicts that the Federal Reserve will soon be forced to pivot in its policy. he said in one Tweet That when this happens – likely sometime in January 2023 – the US dollar will probably crash while crypto climbs.
In a follow-up tweet, he explained that as long as the Fed keeps hiking interest rates, the dollar will get stronger, causing gold, silver, and Bitcoin prices to go lower. When the Fed reverses to dropping interest rates, as the U.K. government recently did, the store of value assets will regain their momentum.
Kiyosaki’s The comment has received backlash from other crypto market watchers and critics. Peter Schiff, A Gold Bug and Vocal Bitcoin Skeptic – Ignoring benchmark crypto – noted that it is possible that gold and silver have already bottomed out. Therefore, he advised investors to buy the precious metals now while they are still affordable.
When do analysts expect crypto to start its rally?
Kiyosaki is not the only financial analyst to predict that the Fed will change its policy direction soon. According to a Business Insider report, Morgan Stanley’s Mike Wilson said in a note that it appears increasingly likely that the Fed will reverse from its currently hawkish monetary policy as global U.S. dollar liquidity is in the “danger zone where bad stuff happens.”
Meanwhile, Daniel Kostecki, a senior market analyst at investment company Conotoxia, told Forbes That if the Fed continues on its current rate hike path, it could reach its expected peak “in a quarter’s time” at an interest rate of 4.7%. He added: “Had this peaked, perhaps the spring of 2023 could have brought a major rally in the crypto market as well.”
