Robert Kiyosaki, the author of the best-selling book ‘Rich Dad Poor Dad’ has predicted catastrophic consequences to the stock market. He warned that an “everything bubble” could soon burst leading to the collapse of leading US stocks, cryptocurrencies, and Bitcoin.
Kiyosaki’s Warning To Traders
The analyst urged traders to be prepared for the upcoming financial turmoil, highlighting that the prepared ones will emerge wealthier. He cited that investors need to keep spare money when the crash occurs to buy low and sell high later. “Take Bitcoin for example. It may crash to $5,000 a coin, then boom to $100,000 to $250,000 and higher,” he noted.
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Potential Impact On Bitcoin And Other Assets
Potential Impact On Bitcoin And Other Assets
He opined that Bitcoin, gold, silver, and stocks could hit rock bottom during the “everything crash” phase next. While it could wipe out their current portfolio, buying the dips could eventually make traders much richer, he said.
“This is not good news for people who do not own gold, silver, and Bitcoin. Then in a few years when another bull market rises, you will be one of the richer, smarter investors,” he foresees.
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“The Everything Bubble is going to turn into ‘The Everything Crash.’ Simply said, everything will crash, including gold, silver, and Bitcoin,” said Kiyosaki. The financial author said that the upcoming global depression could make ordinary investors turn into millionaires if they invest wisely.
What Next For Bitcoin & the Global Stock Market?
Bitcoin is currently trading around the $63,700 mark and has surged more than 130% in a year. The global stock market faced hiccups recently after Iran attacked Israel through missile strikes. However, the markets have stabilized but the threat of an upcoming crash looms.
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Future Market Projections
If the stock market dips, Bitcoin could also head south and make leading cryptocurrencies turn red. However, we’ll have to wait and watch whether it will crash to $5,000 as Kiyosaki predicts. Several doomsday predictions have fallen flat as the markets have outperformed all catastrophic projections.