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Robert Kiyosaki Shares Ultimate Bitcoin Advice While Harshly Criticizing Fed

Mon, 10/03/2022 - 09:14
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Gamza Khanzadaev
"Rich Dad, Poor Dad" author Kiyosaki on when and why you should buy Bitcoin
Robert Kiyosaki Shares Ultimate Bitcoin Advice While Harshly Criticizing Fed
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Bestselling business writer and financial markets expert Robert Kiyosaki has once again shared his thoughts on Bitcoin and some other assets, drawing on his harsh criticism of the Fed.

According to Kiyosaki, the Fed is screwed and will continue to raise rates, which will cause commodity assets and Bitcoin to fall. During this period, it is necessary to buy these assets, the author believes. Further, according to Kiyosaki, in January 2023, the Fed will turn around and start to reduce the rate, which will cause the collapse of the dollar and the growth of Bitcoin, silver and gold.

If you take this opportunity, the moment at which everyone else cries, you can smile because you have not fallen victim to the Fed, the writer concluded.

Current state of crypto market

At the moment, the situation on the crypto market is uncertain. On the one hand, October began, which traditionally proceeded with optimism on the background of an usually negative September and was, therefore, called Uptober.

On the other hand, the background is clouded by the Fed's tight monetary policy, trying to curb historically high inflation, so it is inappropriately tied to the crypto market. This week, we have a number of events and speeches from Federal Reserve officials, which is always fraught with increased volatility.

Lehman Brothers 2.0 Situation May Cause Another Catastrophe on Crypto and Financial Markets

Among other things, additional pressure on cryptocurrencies is now coming from Credit Suisse, a large banking conglomerate, rumors of whose possible bankruptcy have emerged today.

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.

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