Robert Kiyosaki recommends buying more gold and silver as Bitcoin falls to USD 24,000, the best time to become rich. Willy Woo also sees disadvantages to Bitcoin as it could suffer a severe correction if the stock market crashes.
Influential investor Robert Kiyosaki recently predicted the biggest crash of the market in world history. The famous writer of the best-seller “Rich Dad, Poor Dad” predicted that the price of Bitcoin would drop to USD 24,000.
He may be referring to recent news on the increased stimulus aid from the US government.
In December 2020, Robert Kiyosaki advised buying Bitcoin to use it as a store of value. He suggested waiting until its price exceeded USD 20,000 and predicted that it would go up to USD 50,000.
When the price of Bitcoin started to drop significantly in May, Kiyosaki urged people to buy cheaply.
On May 30th, the price of Bitcoin fell to USD 37,000. Kiyosaki said that this was wonderful news as people could buy again once the price reached USD 27,000.
In April, he said that the price of Bitcoin will hit USD 1.2 million within 5 years. He added that money printing, excessive incentives, and the devaluation of the US dollar make Bitcoin and gold attractive.
Kiyosaki Predicts that the Biggest Crash Will Happen Soon
In 1997, Robert Kiyosaki wrote the book on financial education “Rich Dad, Poor Dad” with Sharon Lechter. More than 32 million people have read it in more than 109 countries in more than 51 languages.
On his Twitter account, Kiyosaki posted that “the biggest bubble in world history (Bitcoin) is getting bigger.” He predicted that the greatest collapse in world history is approaching. Furthermore, he recommended buying more gold and more silver as Bitcoin falls to USD 24,000. He said that this will be the best time to get rich.
Curiously, Robert Kiyosaki did not provide any details on how he was able to predict Bitcoin’s price.
Kiyosaki is not criticizing the potential of Bitcoin in any way but he is predicting the future. However, he is also expressing that it will be an opportunity as people can easily buy without fear.
Kiyosaki Is Not the Only Analyst to Make an Alarming Prediction
Renowned statistician Willy Woo also sees disadvantages to Bitcoin, in addition to the ones that Kiyosaki mentioned. He believes that the pioneering cryptocurrency could suffer a severe correction if the stock market crashes. That would happen immediately after the US dollar regains its strength.
“My concern about a bearish risk is whether a major correction in stocks will push the price of Bitcoin lower. That would happen regardless of what the network’s fundamentals suggest,” Woo said.
Robert Kiyosaki says that “downturns are the best time to get rich.” The financial expert is aware that Bitcoin is volatile and understands that the best time to buy is now. He also knows that the pioneering cryptocurrency is capable of bouncing back to exceeding all-time highs.
By Alexander Salazar
