The author of Rich Dad Poor Dad expressed his opinion on the BTC futures market, claiming that the prices of gold and silver undergo manipulation. The businessman warns about the boom and bust cycles in the economy due to factors like the growing global debt and geopolitical tensions.
Despite the bearish crypto market starting in 2021, renowned American businessman Robert Kiyosaki believes the price of Bitcoin (BTC) will explode soon.
The investor and author of the best-selling book Rich Dad Poor Dad commented that Bitcoin would succeed despite its volatility and recent price drop. Anticipating that its value would rise, he said it would exceed the mark set by the industry and investors should buy more.
Kiyosaki said in an interview that he felt happy whenever the price of Bitcoin dropped. The author has also discussed his strategies and described the outlook for BTC in the short term on Twitter.
In a recent tweet, he argued that successful people learn from their mistakes, while losers quit when they lose. Therefore, he anticipates that the pioneering cryptocurrency will drop further and is waiting until it tests USD 1,100.
The Price of Gold and Silver Undergoes Manipulation
The financial expert accused JPMorgan of trading uncovered short positions on Comex and liquidating silver transactions, posing risks to investors.
Kiyosaki thinks that gold and silver are undergoing manipulation, saying that many have criticized JPMorgan for lowering their prices. He considers that clever people take advantage of that situation to buy more.
Metals analysts who agree with him have asked the authorities to fine JPMorgan for allegedly manipulating the prices of gold and silver in the futures market. The expert thinks that smart people seize that opportunity to buy cheaply.
The famous author has warned investors about the volatility of cryptocurrencies related to falling prices through his books. The 80% drop of Bitcoin in 2018 represented a moment of panic as it was one of the worst resets in the industry.
Political Movements Are a Crucial Factor in the Economic Recession
The American investor also commented that the rising global debt and geopolitical tensions are crucial factors in an economic downturn. For example, the announcements about growing inflation rates, the war between Russia and Ukraine, and tweets by well-known personalities contribute to it.
Kiyosaki recommended that governments, like the Biden administration, create institutions in line with the middle class and the poor. He also stressed it is necessary to learn from the effects of the Russia-Ukraine conflict on the price of gasoline in the United States.
Decentralized cryptocurrencies such as Bitcoin are relevant in the economy, which financial experts like Robert Kiyosaki know well. Although the crypto market is undergoing a bearish trend, many analysts believe the price of BTC might rise significantly soon.
Meanwhile, Bitcoin is trading at around USD 20,093 and has accumulated a 4.2% gain over the past week. While its daily trading volume is above USD 38.54 billion, its market capitalization is about USD 384.80 billion, according to CoinGecko.
By Alexander Salazar
