The news of the Bitcoin(BTC) crash is all over the news headlines these days. The author f the best selling book Rich Dad and Poor Dad, Robert Kiyosaki, has stated that the Bitcoin(BTC) will certainly crash after the world discovers a coronavirus vaccine that actually works. In the tweet of September 15, 2020, the popular author claimed that the possessions might drop in some time. Why? Due to the Covid-19 scenario.
Is this a golden opportunity?
This is clearly the topmost question among the individuals, whether it is the right time to invest in them. After the invention of the Covid-19 vaccine, the Gold Silver bitcoin will crash, which might be a golden opportunity to buy them.
But, the author Kiyosaki also debated on the fact that this epidemic was masking the real concerns. One of the major ones being the economic conditions of the U.S. The nation might go ‘bankrupt’ soon, considering the government’s stimulus steps against the Covid-19 hit with approximately $26.7 trillion due to financial duty. A debt of $28 trillion balance sheet debt and $120 trillion off-balance sheet social duty follows the list. The U.S debt is massive.
Considering the cross asset market crash in March, this argument clearly favored the Bitcoin investment as a long-lasting option. It is clearly evident that even though taking the U.S’s present strength under consideration, the U.S Dollar is going in a downhill trajectory path. The majority of them might call Federal Reserve Policies responsible for countering the covid-19 fallout. As per the reports of the Cointelegraph, this weak point might be the reason actually to sustain the current Bitcoin scenario right now. This could be a significant point for the traders since this holds an inverted connection.
According to the sources, the Federal Reserve policies are pretty much set to discuss the future of market involvement and the upcoming possibility of dollar variability. Another significant pattern has evolved, which apparently boasts the BTC/USD as the fundamental financial duty collected by reserve banks worldwide has pretty much expanded.
But on the other hand, Kiyosaki stays pretty much stern and outspoken regarding this issue irrespective of the ongoing conditions. He even advised the traders to go ahead and purchase cryptocurrency before a ‘major banking crisis’ appears, as the trend indicates.
The dollar crisis and the Federals intervening in this scenario made his points much stronger.
Furthermore, Warren Buffet leaving the U.S banking financial investments and purchasing gold along with that clearly didn’t line up properly, according to the author. According to him, with such a cash position, switching to such a different niche of investment like gold stocks is quite a shock since Warren Buffet didn’t really participate in such types of investments in the last few decades. Thus, it was clearly unpredictable, but he surely got a significant position in the Japanese stocks! This is a red flag for people out there.
Furthermore, Keiser projection states that Bitcoin investment might have a great upcoming future as soon as the present financial condition clears up.
Thus, a great tip for investors is that it is surely a fine time to invest in such Bitcoin ventures, but the factors of the U.S dollar crisis shouldn’t be overlooked as well.