- US Dollar has been surging exponentially
- Robert Kiyosaki has tipped Bitcoin and two other commodities as buying opportunities
- U.S. dollar crash could occur by January – Experts
Businessman and best-selling author Rich Dad Poor Dad Robert Kiyosaki has referred to Bitcoin (BTC), silver, and gold as a buying opportunity in light of the strengthening US dollar and ongoing interest rate hikes.
The author mentioned in a tweet that he sent out on Oct. 2 to his 2.1 million followers on Twitter that the prices of the three commodities, which are sometimes referred to as safe haven assets, would continue to fall as the value of the United States dollar increases and the “FED pivots” and lowers interest rates.
BTC Price at the time of writing – $19,213.39
Kiyosaki predicted in a post the day before that this pivot could occur as soon as January 2023, causing the U.S. dollar to crash in the same way that the British pound did recently.
Kiyosaki has advocated for asset classes that the Fed cannot directly manipulate since May 2020. Following the Fed’s immediate episodes of mass money printing in response to the COVID-19 pandemic, he once advised investors to “Get Bitcoin and save yourself.
Interestingly, Kiyosaki stated in a recent interview with Rich Dad that he still enjoys Bitcoin despite not believing in its value.
According to Trading Economics, the GBP/USD, euro/USD, and Japanese yen/USD have decreased by 18.24 percent, 15.54%, and 23.33%, respectively, as a result of the U.S. dollar’s gradual strengthening against other major global currencies over the past year.
October to be a volatile month for BTC
In addition, the crypto market cap has decreased by 55% over the past year in tandem with the Fed’s interest rate hike and the strengthening USD.
Co-founder of the hedge fund CK Zheng predicted that October would be a very volatile month for Bitcoin last month.
October is a pretty volatile time, especially when it comes with high inflation and a lot of debate about the Fed and changing policy.The concern is that the U.S. economy may actually enter a severe recession if the Fed tightens too much.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.