TLDR:
- Robert Kiyosaki believes a financial bubble is about to burst, which will affect Bitcoin, gold and silver.
- He has paused his Bitcoin buying after it reached an all-time high of over $120,000.
- Despite this caution, he plans to buy more after a major market downturn.
- Kiyosaki is optimistic about Bitcoin’s future but has called for investors to be educated and patient.
Robert Kiyosaki, author of Rich Dad Poor Dad and a longtime advocate for assets like Bitcoin, gold and silver, has just sent out a warning to investors.
According to Kiyosaki, a major economic correction is on the horizon. And when it hits, even crypto and even safe-haven assets may not be spared.
The financial educator has also paused further Bitcoin purchases, especially after the cryptocurrency recently crossed $120,000. He cited concerns over inflated market sentiment and a possible for a bubble burst.
Although Kiyosaki remains bullish over the long term, his latest warnings have now called for caution amid investing.
A Bubble Ready to Burst?
Kiyosaki didn’t mince words when he took to social media recently: “BUBBLES are about to start BUSTING,” he posted on X.
Within the post, he warned that gold, silver and Bitcoin could all fall sharply if the economy tanks further. His concern isn’t rooted in a loss of faith in these assets though. He acknowledged that during times of economic panic, even strong assets can get dragged down by emotional selloffs.
Kiyosaki warns about greed
Source: X
This isn’t the first time Kiyosaki has predicted a market downturn. However, this instance is interesting because of its timing. Bitcoin recently hit a new all-time high above $120,000, gold has gained nearly 28% this year, and silver is also seeing strong investor interest.
The market is currently heated on all fronts, and Kiyosaki fears that irrational investor sentiment may have taken over.
Pausing Bitcoin Buys After Hitting $120K
Earlier in July when Bitcoin crossed $117,000, Kiyosaki was enthusiastic. He announced plans to purchase another coin. However, as it surged past $120,000, his tone changed.
He decided to stop buying, and cited uncertainty in the economy. While he acknowledged that Bitcoin could still rise to $200,000 or even $1 million eventually, he stressed that now is not the time to chase gains blindly.
“Pigs get fat, hogs get slaughtered,” he cautioned against greed.
Bubbles are about to start bursting
Source: X
Kiyosaki pointed out that his investment strategy is not about avoiding Bitcoin altogether. Instead, it is about buying smart, especially during major dips. “If prices of gold, silver, and Bitcoin crash… I will be buying,” he reassured followers.
Bitcoin’s Dominance Slips
It seems as though Kiyosaki might be on to something. Even though Bitcoin reached new highs, its dominance in the crypto market has begun to shrink. In just two weeks, the flagship cryptocurrency’s share dropped from 67% to 61%, in a show of investor behavior.
While this happened, altcoins like Ethereum and XRP have gained ground. This indicates that investors are starting to diversify and accept more risk.
Interestingly, gold has outperformed Bitcoin so far, and has added nearly 28% to its value since January. Although Bitcoin temporarily outshined gold, the balance has shifted again in favor of the precious metal.
This back-and-forth dynamic is likely to introduce even more complexity to things, as investors choose where to allocate their capital.
Despite his short-term caution, Kiyosaki is still optimistic about the long-term future of Bitcoin.
He continues to predict that the digital currency could eventually reach $1 million. However, he advises newcomers to avoid overcommitting early and instead start small, maybe buy satoshis.
“The real winners,” he said, “will be those who buy after the ‘hogs’ have been slaughtered and prices have crashed.”
The post Robert Kiyosaki Warns of Bitcoin, Gold and Silver Bubble Amid Market Euphoria appeared first on Live Bitcoin News.
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