The renowned author recommended having cash to take advantage of the bargains after the stock market crash. Many analysts say the market will continue to rise, but Kiyosaki warns that the opposite could happen.

American entrepreneur, investor, and motivational speaker Robert Kiyosaki recently spoke about the stock market crash in October. In that sense, the author of Rich Dad, Poor Dad expressed that gold, silver, and Bitcoin might also collapse.

Kiyosaki is one of several experts who have been sharing their concerns about the current market.

In that regard, Big Short investor Michael Burry and GMO co-founder Jeremy Grantham believe that the hugest bubble is about to burst.

For their part, investors Jeffrey Gundlach, Leon Cooperman, and Stanley Druckenmiller believe that the speculative momentum will not last much longer. Therefore, everything seems to point to a stock market crash of unprecedented proportions.

Gold, Silver and Bitcoin May Also Collapse, According to Kiyosaki

Entrepreneur and investor Robert Kiyosaki warned that a market crash is approaching. He predicted that the stock market would collapse in October as the Fed is missing the Treasury bills. He further said that gold, silver, and Bitcoin might also collapse.

The renowned author recommended having cash to take advantage of bargains after a crash. He said that he would not sell Bitcoin, gold or silver, but would have a lot of money after the stock market crash. He warned of the danger of investing in stocks and suggested being very careful.

Treasury bills are short-term public debt securities issued at a discount. The State Treasury produces them as a type of short-term financing at the lowest possible cost.

Robert Kiyosaki Says that the Biggest Market Crash Is Near

Experts like finance guru Robert Kiyosaki are warning of an epic stock market crash. The founder of Rich Global and Rich Dad Company is predicting that financial markets will suffer their worst decline.

Kiyosaki explained why there could soon be a stock market crash never seen before. He also reminded investors that the financial system was changing very fast.

The investor reported that many analysts say the market would continue to rise for two more years, but he believes that the opposite could happen. He added that the next stock market crash would be the biggest in world history.

Kiyosaki Has Given Advice on Past Occasions

However, Robert Kiyosaki stated that there are good options for investors to protect themselves. He stressed that silver is a good investment, as it poses a low risk and shows high potential. He added that the falling value of the US dollar makes Bitcoin and silver the best investments.

Kiyosaki advised to be patient and wait for bargains to invest. In that way, he anticipated a brutal market crash, as he expected an abundance of low prices after the crash.

He said that it is time to be patient rather than greedy, for which it is necessary to be on guard and be cautious. He expressed that he wanted his followers to be as prepared as possible before investing.

By Willmen Blanco

Despite the bans by China, Lee is adamant about his forecast that Bitcoin will exceed USD 100,000 by the end of the year. Lee believes that OTC platforms operating from exchanges will only stop offering their services to users in China.

Chinese businessman Bobby Lee is the CEO of the physical wallet service Ballet and a former director of BTCC. The latter was once one of the largest cryptocurrency exchanges in China.

Lee commented that the Chinese government has always had Bitcoin and other cryptocurrencies in its sights. However, he said that the ban is now fully explicit, criminalizing all Bitcoin buying and selling operations in the territory.

The executive added that Bitcoin buying and selling operations are the only ones that the government has prohibited. That ban does not cover the trade of digital assets on exchanges or the holding of cryptocurrencies. For that reason, he believes that it is not the end of digital operations in China.

According to Lee, Bitcoin and other cryptocurrencies will become external digital assets. Although no one can buy or sell cryptocurrencies in China, citizens can travel to other countries. While on vacation or business, they can trade those crypto assets unlimitedly. The businessman clarified that they could do this only outside the territory of China.

Despite the situation, Lee stands firm on his forecast that Bitcoin will exceed USD 100,000 by the end of the year. He believes no factor determines the aggressive decline of the cryptocurrency.

The creation of Bitcoin occurred without any ties to the Chinese government. For that reason, it is not logical that the decisions of a single country define the future of that cryptocurrency.

OTC Markets Will Be Next to Fall to China’s Bans

Over-the-counter (OTC) markets help facilitate transactions between asset pairs. That popular platform allows investors in China to buy and sell their cryptocurrencies. Bobby Lee believes that they will soon be the only way to make those kinds of transactions.

The Asian country is taking extreme measures against cryptocurrency trading, which has led OTC markets to suspend their trading activities.

Bobby Lee believes that OTC platforms that operate from exchanges such as Huobi and Binance will close in the short term. He explained that they would only stop offering their services to users in China. According to Lee, some OTC users are still trading, but that will decrease with the days.

Bitcoin trading platform Huobi is one of the largest cryptocurrency exchanges in the world. They suspended service to users within Chinese territory after the bans by the Chinese government.

The closure of cryptocurrency exchanges in China is now final, and OTC markets could follow their example in the coming days.

The importance of crypto assets in the world economy has become increasingly evident, which has not gone unnoticed by governments. China alleges that transactions with Bitcoin and other cryptocurrencies affect and alter the economic and financial order of the country.

By Willmen Blanco

The number of participants in the Bitcoin market has grown since its price fell in mid-April. Around 9.6% of the coins currently held by holders are at a loss.

The Bitcoin market has shown both bullish and bearish signs amid low usage of the network, according to Glassnode. The number of transactions with the pioneering cryptocurrency has dropped by between 175,000 and 200,000 every day.

Additionally, the adoption of SegWit, batch transactions, and the second layer Lightning Network is growing. That could be an indicator of a future upward trend, according to a Glassnode report.

The argument that holders and traders dominate the market gains strength with the decrease in transactions. Now there is less participation from new investors and retail traders.

Exchanges are increasingly employing batch transactions, with multiple withdrawals processing as a single transaction. Glassnode highlights that the number of transactions alone may be misleading.

The Number of Participants Drops When Bitcoin Reaches an All-Time High

They recommend examining the number of active entities, that is, the groups of associated addresses. The number of participants drops when there is an all-time high, probably due to profit-taking. After a low in July, it is possible to observe a rebound in new investors in the last two months.

Another analysis bases on the evolution of the net growth of the entities. It shows the difference between the number of new on-chain entrants, who retain new coins, and those who leave the network. Of course, the latter have proceeded to sell all their holdings.

The first and second periods lasted around 300 and 3,500 days, respectively, while the most recent is from 2018 to 2020. Glassnode extends the latter to the present time as it considers the price correction in mid-April as part of the period.

According to Glassnode, the current market has returned to the upper limit of the 2018-20 bearish market baseline. Currently, there are about 13,000 new entities every day, they say.

Perhaps most of today’s market participants are long-term accumulators and holders. However, no one knows whether those categories of holders can maintain their line of action and provide sufficient support for purchasing.

Glassnode recently added data to complement the report, noting that 80.5% of Bitcoin’s supply is in the hands of long-term holders. Around 71% of the BTC held by that segment of holders is in profit at the moment.

Bitcoin’s Second Layer Network Is Booming

Glassnode reports the remarkable growth of Bitcoin’s second layer network, Lightning Network (LN), in September. That record network activity occurred due to the announcement that El Salvador would adopt the Chivo wallet.

Around 2.1 million Salvadorans, almost 30% of the population, used that wallet on September 26^th. That device allows them to make payments through the Lightning Network.

LN nodes reached an all-time high of 15,600 in the last week, double the number of nodes in September 2020.

Channels between different nodes in LN also peaked at 73,000, an average of 4.6 channels per node. That is twice the number of live channels during the 2019-20 period, with most of this growth occurring since May 2021.

LN’s capacity also reached an all-time high of 2,904 BTC, equivalent to around USD 122 million. That milestone indicates that there has been a 170% increase since January.

By Willmen Blanco

A Canadian mining company was the only one to outperform BTC in the third quarter. Investors estimate that an upward trend for the emerging market will arrive in the fourth quarter.

Bitcoin (BTC) proved to outperform public cryptocurrency mining company stocks in the third quarter of 2021. During that period, many of those companies were in the red.

Calculations from Compass Mining indicate that leading mining companies, except for Hut 8, posted lower returns than Bitcoin. There was an average of returns on investment (ROI) of 23% for BTC and up to -25% for American mining company Riot.

That comes as the fiscal year of the United States draws to a close and investors are already targeting its fall reversals.

According to Compass Mining, users consider that the shares of mining companies are a very volatile investment compared to Bitcoin and other cryptocurrencies. For that reason, the price of the shares rises and falls alongside the first crypto asset on the market.

The shares of leading mining companies did not outperform Bitcoin in the third quarter. That happened even though the cryptocurrency’s price fell early in the period and has traded at around USD 40,000 in recent weeks.

Although shares in some mining companies have been profitable, the returns have been mostly poor.

The Value of Some Shares Suffer the Most Pronounced Falls

American public cryptocurrency mining company Riot is among those with the most pronounced falls in shares. It fell as much as Bitcoin advanced during the third quarter (-25%).

Makers of cryptocurrency mining hardware Ebang and Canaan had an unfavorable performance in the third quarter. They suffered double-digit drops in the costs of their shares by 19% and 31%, respectively.

The Mining Companies that Have Performed the Best

Only three mining companies saw green numbers in their shares during the third quarter.

Canadian companies Bitfarms and Hut 8 performed 21% and 101%, respectively. The second was the only one that managed to outperform Bitcoin in performance.

For its part, American company Marathon achieved a return of 14%, which was positive. However, it was not enough to show a better performance than the pioneering cryptocurrency.

Investors Estimate that there Will Be an Upward Trend in the Fourth Quarter

Most cryptocurrency investors estimate that the fourth quarter of the year will bring a steady upward trend to the market.

That would lead the shares of public cryptocurrency mining companies to post significant gains again. If not, the market would go into a bearish streak while stocks would risk giving up, even faster than Bitcoin.

Some Bitcoin Mining Companies Are Publicly Listed

In mid-October, two mining companies hit the Wall Street stock market. Argo Blockchain used the IPO (Initial Public Offering) method while Greenidge merged with Support.com.

Argo came to Wall Street with a package of 7.5 million shares, which they put up for sale using the abovementioned method.

Other large companies, such as Bitfarms, Marathon, and Riot, are also part of the stock market. They are the cryptocurrency companies that dominate the stock market, with 35% being publicly traded, according to CoinShares.

Among Bitcoin-related companies, mining companies had a higher valuation during the year, averaging 121%. Analysts believe that the ban and subsequent decline in activity in China made it profitable for all miners.

By Willmen Blanco

Mayor Suárez assured that his staff is working on it and hopes that, by next month, this payment option will be available for all interested parties.

The mayor of the city of Miami, Francis Suárez, assured that his team is already working so that citizens have the possibility of paying their taxes with Bitcoin, for which they will soon have a sample ready to appear this month. He wants to see if it complies with respective standards.

This news came from Suarez during an interview on Anthony Pompliano’s Best Business Show program. There, the mayor revealed some details about the progress regarding this situation. He also expressed his opinions about what could be happening with digital currencies in the international scenario.

Citizens Paying their Taxes with Bitcoin

When addressing the issues related to the payment of taxes with digital currencies, Mayor Suarez highlighted that the procedures to achieve this goal have already begun. But, due to the substantial implications that this type of proposal has, they still have to work on it.

The leader assured that they do this to take full advantage of the benefits that Bitcoin offers. He recommends that governments receive adequate education about digital currencies.

Suárez has stepped forward, and citizens and media outlets describe him as a Bitcoin follower and major cryptocurrency enthusiast. He openly sympathizes with the adherence of new technologies, starting from bringing digital currencies to a higher number of users within Miami, even proposing to miners to use the economic nuclear energy within the state.

MiamiCoin and How it Works

Miami Coin is the first CityCoins project developed for Florida city. It receives power from Stacks, the open network for decentralized applications and smart contracts in Bitcoin, a building a user-owned Internet secured by Bitcoin. Stacks uses the native STX currency.

According to the company, CityCoins allows anyone to become a miner by sending their STX tokens through the protocol. 30% of the forwarded STX gets reserved for the respective city. Miners can accumulate the remaining 70% to earn STX and BTC.

The mayor of Miami and the Miami City Commission voted this week to accept $ 4.5 million in cryptocurrency MiamiCoin, which got reserved by protocol design.

Mayor Francis Suarez wrote on Twitter that the funds would generate a positive impact on the lives of Miami residents.

Mayor Suarez and the Miami City Commission have pledged funds for initiatives targeting the city’s underprivileged communities, incentives for tech entrepreneurs, crypto education and climate change, and rising sea levels.

It is worth noting that since the beginning of the year, Suárez has expressed his interest in cryptocurrencies, mainly in Bitcoin.

He ended on the last day of December 2020 by announcing that he planned to invest city reserves in BTC. He also stated that he aspired to pay public employees with that cryptocurrency and even called miners to move there.

By: Jenson Nuñez

A container with the Bitcoin miners got deployed in the electrical installation. The plant has an installed capacity to generate up to 109 MW of energy.

The mining of Bitcoin (BTC) with geothermal energy from volcanoes is now a reality in El Salvador. President Nayib Bukele revealed, this Tuesday, September 28, a video showing the installation of a container with dozens of ASIC equipment in the Berlin geothermal field, in Usulután.

In a statement spread through Twitter, the leader only limited himself to saying first steps. The number of miners arranged by the Salvadoran government, the model of the equipment, or the overall processing capacity they currently have remains unclear.

The installation of Bitcoin miners in El Salvador and the implementation of geothermal energy from volcanoes have been two of Bukele’s goals to encourage digital mining.

The first president is a faithful believer in the potential of bitcoin as a tool to attract investments, improve the economy of his country, and minimize the commissions for sending remittances.

On the other hand, it is vital to consider that the Berlin geothermal field, in the department of Usulután, has a maximum capacity of about 109 MW if it is working at 100%. However, a Salvadoran electrical engineer explained that the installation is not currently operating at its maximum capacity.

Bitcoin Mining in El Salvador

President Bukele revealed that his country would not only recognize bitcoin as legal tender, it would also boost the mining of BTC. For this activity, the ruler assured that El Salvador would apply geothermal energy from its volcanoes, a fact that attracted international media attention.

The Central American nation has two fields that exploit this type of energy; Berlin and that of the geothermal power plant of Ahuachapán, in the west of the country. This last plant has a maximum capacity of 95 MW, which would help supply at least 700,000 Salvadorans.

According to the message shared by Bukele, there would be new announcements related to the installation of more miners. The plan would only use renewable energy and not use other types of energy sources for Bitcoin mining.

Renewable Energy to Mine Bitcoin

A study by the Massachusetts Institute of Technology (MIT), published in September 2018, affirms that the sole dependence on renewable energies is an expensive method to clean the energy grid.

This statement goes against the opinion of various scientists that highlight elements such as wind and solar power as sources that could satisfy most of the electricity demand.

Both forms of energy are intermittent since neither the sun nor the wind is always available. This unavailability would mean an increase in storage batteries to satisfy the continuous demand for electricity. This energy demand, in turn, would increase costs.

Today many cryptocurrency miners are leading their operations with renewable energy in places for them to do it without cooling systems.

A part of the crypto mining sector is trying to approach sustainability. These steps to reach sustainability also imply a commitment to turn down opinion matrices against Bitcoin and its impact on the environment.

By: Jenson Nuñez