Robert Kiyosaki warns of stock crash, says Bitcoin is a bargain today
- Robert Kiyosaki warns market participants of an impending crash in stocks, bond and real estate and said Gold, Silver and Bitcoin are bargains.
- Steve Miller, stock market veteran, responded to Kiyosaki’s advice and contradicted his take on Bitcoin.
- Miller believes Gold and Silver could double or triple in value, Bitcoin is more likely to get cut in half.
Robert Kiyosaki is the author of the bestseller book “Rich Dad Poor Dad” and a renowned financial influencer. In his recent tweet, Kiyosaki shared his concerns with his 2.4 million followers, regarding an impending crash in stocks, bonds and real estate.
Kiyosaki has been a Bitcoin proponent for years now, advising that market participants buy BTC “at a bargain."
Also read: Maker price climbs 16% in a week, outperforming other altcoins with increasing DAI supply
Kiyosaki recommends traders to buy Gold, Silver and Bitcoin at a bargain
In his recent tweet, Kiyosaki addressed the question posed by market participants. The influencer said Bitcoin is at a bargain now and it is the right time to scoop up Gold, Silver and BTC, ahead of the upcoming crash in the market.
I am constantly asked “What price will gold, silver, or Bitcoin be in 2025. My reply is that is a silly question. More important question is how many gold, silver, Bitcoins do you have TODAY? Gold, silver, Bitcoin are bargains today… but not tommow. America is broke. Buy GSBC…
— Robert Kiyosaki (@theRealKiyosaki) September 19, 2023
While Kiyosaki urged traders to buy Bitcoin, Steve Miller, a stock market veteran and host of a financial show, criticized the author’s pick. Miller argued that gold and silver have the potential to appreciate in value, however, Bitcoin’s value is more likely “to be cut in half.”
While I mostly agree, what I differ on is bitcoin. Gold could double and silver triple, while bitcoin does little or gets cut in half.
— Steve Miller (@askslim) September 19, 2023
Meanwhile, Miles Deutscher, another crypto analyst made an observation that long-term Bitcoin holder supply has hit its all-time high. This class of market participants have consistently accumulated and the percentage of Bitcoin held by long-term holders is about to break it's all-time high shortly.
Bitcoin long-term holder supply vs price
According to Deutscher, we are currently in a bear market and this is the time when BTC moves from weak to strong hands, meaning, from traders to holders or long-term investors.
Long term #Bitcoin holders keep accumulating, with long-term holder supply at ATHs.
— Miles Deutscher (@milesdeutscher) September 19, 2023
The % of $BTC held by long-term holders is also about to break its ATH.
Bear markets represent a shift of wealth from the weak to the strong hands. pic.twitter.com/GBJ8QEJM7x
At the time of writing, Bitcoin price is $27,075, up 4.74% over the past week.
Bitcoin, altcoins, stablecoins FAQs
What is Bitcoin?
Bitcoin is the largest cryptocurrency by market capitalization, a virtual currency designed to serve as money. This form of payment cannot be controlled by any one person, group, or entity, which eliminates the need for third-party participation during financial transactions.
What are altcoins?
Altcoins are any cryptocurrency apart from Bitcoin, but some also regard Ethereum as a non-altcoin because it is from these two cryptocurrencies that forking happens. If this is true, then Litecoin is the first altcoin, forked from the Bitcoin protocol and, therefore, an “improved” version of it.
What are stablecoins?
Stablecoins are cryptocurrencies designed to have a stable price, with their value backed by a reserve of the asset it represents. To achieve this, the value of any one stablecoin is pegged to a commodity or financial instrument, such as the US Dollar (USD), with its supply regulated by an algorithm or demand. The main goal of stablecoins is to provide an on/off-ramp for investors willing to trade and invest in cryptocurrencies. Stablecoins also allow investors to store value since cryptocurrencies, in general, are subject to volatility.
What is Bitcoin Dominance?
Bitcoin dominance is the ratio of Bitcoin's market capitalization to the total market capitalization of all cryptocurrencies combined. It provides a clear picture of Bitcoin’s interest among investors. A high BTC dominance typically happens before and during a bull run, in which investors resort to investing in relatively stable and high market capitalization cryptocurrency like Bitcoin. A drop in BTC dominance usually means that investors are moving their capital and/or profits to altcoins in a quest for higher returns, which usually triggers an explosion of altcoin rallies.
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Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
