Financial educator and Bitcoin advocate Robert Kiyosaki is raising alarms with a dire prediction of an impending global stock market crash of unprecedented proportions. Kiyosaki’s warning comes as a result of growing concerns that the global economy could buckle under the weight of successive interest rate hikes.
Kiyosaki, best known for his bestselling book “Rich Dad Poor Dad,” has long been a respected voice in the world of finance and investment. His insightful advice on building wealth and navigating the financial world has garnered a massive following. Kiyosaki’s unique perspective has earned him the reputation of a financial guru, and his words are often heeded by both novices and seasoned investors.
Kiyosaki’s Love For Bitcoin, Gold, And Silver
Taking to the social media platform X, Kiyosaki offered a pragmatic solution to weather the impending financial storm. He advised investors to consider a substantial shift in their portfolios, suggesting a mix of 75% gold, silver, and Bitcoin, with the remaining 25% allocated to real estate and oil stocks. Kiyosaki believes that this diversified portfolio could offer a safeguard against what he fears will be “the greatest crash in world history.”
SHIP of FOOLS. Forever and ever financial experts have promoted the idea “Smart Investors invest in 60/40 60% bonds 40% stocks. In 2024 60/40 investor will be biggest losers. Before going down with the ship consider a shift to 75% Gold, Silver, Bitcoin 25% real estate/oil…
— Robert Kiyosaki (@theRealKiyosaki) October 29, 2023
Kiyosaki’s affinity for Bitcoin, as well as precious metals like gold and silver, is deeply rooted in his skepticism about the traditional financial system. He views these assets as hedges against the devaluation of fiat currencies and economic uncertainties.
Bitcoin, the world’s leading cryptocurrency, has gained prominence as a decentralized and finite digital asset, which Kiyosaki sees as a reliable store of value in turbulent times. Gold and silver, on the other hand, have a long history of serving as safe-haven assets, valued for their intrinsic worth and stability.
Bitcoin currently trading at $34,499 on the daily chart: TradingView.com
Bitcoin’s Massive Potential
In the world of cryptocurrency trading, Josh Olszewicz, a respected figure, recently made a bullish prediction regarding Bitcoin’s price. Olszewicz believes that Bitcoin (BTC) could potentially reach the $38,000 level, basing his projection on the emergence of a “high n’ tight flag” formation.
4h $BTC
trying for a high n’ tight flag here, breakout target is yearly pivot at 38k
inside the flag we’ve got evidence for A&E and iH&S aka market refuses to break down
any new LL = flag is invalidated and we prob see retrace to 31k pic.twitter.com/QLUXBFSDFj
— Josh Olszewicz (@CarpeNoctom) October 29, 2023
The “high n’ tight flag” formation is a technical pattern often regarded as a bullish indicator in market analysis. It typically occurs when an asset experiences a significant uptrend, followed by a brief consolidation period, forming a flag shape.
Image: Shutterstock
This consolidation suggests that the asset is gathering momentum for another strong upward move. Traders often interpret this pattern as a signal for a potential price surge, which is precisely what Olszewicz anticipates in the case of Bitcoin.
As of the latest available data, the current price of Bitcoin, according to CoinGecko, stands at $34,416.41. Over the past 24 hours, Bitcoin has experienced a modest rally of 1.2%, while its seven-day performance shows a more substantial surge of 13.5%. These fluctuations in price illustrate the volatile nature of the cryptocurrency market and the importance of staying informed and vigilant in today’s financial landscape.
Featured image from Shutterstock