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Robert Kiyosaki, the best-selling author of Rich Dad Poor Dad, believes bitcoin could drop to $10,000 as the dust settles from the FTX fallout.
The sudden collapse of the third largest cryptocurrency exchange, FTX, has dragged the entire crypto space into another cycle of fear, uncertainty and doubt (FUD). As a result, all major crypto assets have been heavily hit, and bitcoin is no exception.
The leading cryptocurrency is currently trading at $16,850, down more than 20% over the past week. Over the past few days, the coin has dropped to as low as $15,682, a level not seen in two years. The second largest cryptocurrency, Ethereum, is also down more than 23% over the past seven days.
In a tweet late Friday, Kiyosaki told his more than 2.2 million followers on Twitter that he remains a huge supporter of bitcoin, gold and silver. He added that the sell-off could see bitcoin drop to $10,000-$12,000, but he would use the opportunity to stock more coins.
“Bitcoin? Worried? No. I’m a bitcoin investor because I invest in physical gold, silver and real estate. I’m not a trader or a flipper. When bitcoin hits new lows of $10 to $12k? I’ll get excited , not worried. I bet against the Fed, Treasury, Biden, and G [gold]s [silver]And bitcoin,” he tweeted on Friday.
It is worth noting that Kiyosaki has been quite accurate with his BTC predictions lately. Back in May, when the market started to decline, he described it as “big news” and predicted BTC to drop to $20,000.
“I’m waiting for bitcoin to crash to 20k. Then I’ll wait to test the bottom, which could be $17k. Once I know that bottom is there, I back up by the truckload. Crash is the best time to get rich,” he Told those days.
In mid-October, Kiyosaki warning More pain is about to come to investors, saying that they should protect their wealth by investing in gold, silver and BTC. He also recommended coming up with alternative sources of income.
“Gold, Silver, Bitcoin Can Protect Your Money… But Not Your Income. As [the] As the economy crashes, stock markets fall, pensions collapse and unemployment soars, a side hustle can provide you with income. Who knows? Your side hustle could grow into the next Amazon or bitcoin. take care. Be aware.”
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