Key Points
- Robert Kiyosaki views the market crash as a golden opportunity to accumulate wealth.
- Bitcoin’s price struggles amidst the market crash, while tariffs and trade wars impact crypto markets.
Robert Kiyosaki, the well-known author of Rich Dad Poor Dad, has voiced his perspective on the ongoing market crash. He sees this as an optimal time for people to accumulate wealth.
Kiyosaki’s View on the Market Crash
Kiyosaki, a staunch supporter of Bitcoin, perceives it as a viable means of securing wealth. In a recent post, he observed that several asset classes are undergoing a substantial crash, which he believes will result in widespread job losses. However, he also sees this as an opportunity for individuals to amass wealth.
In an earlier prediction, Kiyosaki had suggested that February would see the most significant stock market crash in history. Despite this, he remained optimistic about the future of Bitcoin. He believes that the crash will drive investors away from traditional markets and towards Bitcoin, thereby causing a surge in its value.
Bitcoin’s Price Struggles and Market Impact
Bitcoin’s price has been on a downward trend, falling below $100,000. Furthermore, over $2 billion has been liquidated in the crypto market in the past 24 hours, a figure which surpasses the COVID crash and FTX implosion. The CEO of Bybit suggests that the total liquidation could even reach $8 billion to $10 billion.
The market crash has been associated with the implementation of tariffs on imports, including 25% tariffs on Mexico and Canada and 10% on China by the US President. This decision has sparked a trade war and has had a negative impact on markets, causing Bitcoin and altcoins to fall.
The Bitcoin fear and greed index reads 44%, indicating that investors are exercising caution, possibly due to recent price drops or uncertainty. Despite a more than 2% drop in Bitcoin’s price in the last 24 hours, trading has increased by over 150% within the same timeframe, indicating that the market remains active. As of the time of writing, Bitcoin is trading at $97,102.