Bitcoin, which held its price level above $22,000 for some time, has lost that crucial zone. This is mainly due to the recent release of Consumer Price Index (CPI) data for August, which is indicating 8.3% year-on-year.
Experts were expecting a figure of 8.1%, and thus, this increased position has come as a shock to the entire crypto space.
Now, it’s important to see how the Federal Reserve reacts to a hike in interest rates.
Meanwhile, Rich Dad Poor Dad author and financial expert Robert Kiyosaki continues his prediction that one of the biggest crashes in history is about to happen. That is why he is advising everyone to hold the cryptocurrency before overtaking the US dollar.
Everyone should invest in crypto
Although Robert is predicting a massive bear cycle, he also claims that it is time for investors to deposit and claim returns later. He points out that in the ensuing crash, the US dollar will drag down the entire economy, leading to worldwide acceptance of cryptocurrencies.
He further added that this is not a time of deprivation, it is a necessity – everyone should enter the crypto space before it is too late.
He keeps on releasing his predictions on Twitter. The link below is an example of one such tweet, in which he claims that the market is in a downtrend, indicating a fall in the prices of stocks, bitcoin, gold, silver and real estate.
After examining how bitcoin and other cryptocurrencies have fallen along with stocks and other riskier assets, and with today’s CPI data release, it appears as though Robert Kiyosaki’s prediction may come true.