If you say over and over that the markets are going to crash, you’re probably right. Writer Robert Kiyosaki shared on social media the prediction that financial markets will collapse on Valentine’s Day.
Bitcoin, gold and silver
Kiyosaki has been bearish in the markets in recent years, he doesn’t think much about the current financial system and the dollar. The best-selling author of “Rich Dad Poor Dad” has repeatedly stated that he is using Bitcoin, gold and silver to hedge against the crash.
One day Kiyosaki will be right and the market will crash. But the question is, does this correct prediction confirm all previous incorrect predictions?
Fired technology are the first falling dominoes
This weekend, Robert Kiyosaki shared his latest prediction on Twitter. He explains to his followers that there is a very big downturn in the economy. He points to the many layoffs that have taken place at Big Tech in recent months.
He talks of 144,000 layoffs in Silicon Valley by 2022 and another 60,000 by 2023.
Kiyosaki bases his findings on research from Stansberry Research. This is a financial research company with a website that seems to predate the credit crunch.
Exchanging counterfeit money for bitcoin
The author suggested that people should remain wise, when such an accident happens, it is not the time to panic, but a good situation to invest money. Or in your words:
“I buy more gold, silver and bitcoin. Real money with counterfeit dollars.
Valentine’s Day massacre
in his tweet he calls the accident the Valentine’s Day massacre. This is a reference to an event on February 14, 1929 (Valentine’s Day) in Chicago where seven men were shot in cold blood. From the moment the police and FBI discovered the murder, famed mobster Al Capone was suspected of being the culprit.
So next Tuesday is Valentine’s Day, and if there is a carnage like 94 years ago, it will be in the financial markets, Kiyosaki said.
The US consumer price index will be published on February 14. This is the main indicator of inflation. Inflation exists anyway, the only question is whether it fell in January.
The strength of the dollar determines the price of bitcoin
Below the inflation of the last 10 years. Although inflation is now exceptionally high (in the long-term equation), the trend appears to be slowing down.
Next Tuesday’s inflation data will determine the future direction of the US Federal Reserve’s monetary policy. This determines what happens to interest rates and indirectly how strong the dollar becomes.
The strength of the dollar, in turn, affects financial assets and certainly also cryptocurrencies. As a general rule, if the dollar strengthens, the price of bitcoin will fall.
Below is the DXY, an index that compares the dollar against a basket of major currencies. The DXY peaked in October and appeared to be collapsing for a long time, but since January the dollar has regained strength.
Kiyosaki expects all asset prices to fall, including gold, silver and bitcoin.
Source: Btc Direct
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Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.
