Robert Kiyosaki, best-selling author rich dad poor dadthink the bitcoin price could go down to $10,000s when the dust kicked up by the fall of FTX will fall.
The sudden collapse of FTX, which has been the third largest cryptocurrency market in the world, has sent the entire cryptosphere into a cycle of Fear, Uncertainty and Doubt (FUD). Therefore, all major crypto assets have taken a toll, and Bitcoin is no exception.
The first cryptocurrency is trading at the time of writing at $16,850, down more than 20% in one week. Over the past few days, the crypto has tumbled all the way to $15,682, a level not seen in two years. Ethereum, the second cryptocurrency, is also down over 23% in the past seven days.
In a tweet posted Friday, November 11, 2022 at the end of the day, Kiyosaki told his more than 2.2 million Twitter followers that he continues to be a big supporter of Bitcoin., gold and silver. He added that the drop in price could send Bitcoin down to $10,000 or $12,000, but he would take the opportunity to hoard BTC.
“BITCOIN”? WORRIED ? No. I’m a bitcoin investor like I’m a physical gold, silver and real estate investor. I am NOT A TRADER nor a pinball. When BITCOIN hits a new low, $10-12,000? I will be ENTHUSIASTIC and not worried. I bet against the Fed, Treasury, Biden, and I bet on G [or]S [argent] and Bitcoin,” he tweeted on Friday.
It should be noted that Kiyosaki was pretty accurate in his BTC predictions in the past. Back in May, when the market started crashing, he described it as “great news” and predicted that BTC would fall to $20,000.
“Waiting for Bitcoin to fall to $20,000. I will then wait for the test which could be around $17,000. Once I know the bottom is reached, I reverse the truck. Crashes are the best times to get rich“, he had declared at the time.
In mid-October, Kiyosaki warned investors against the worsening of the situation, telling them that they should protect their wealth by investing in gold, silver and BTC. He also recommended finding other sources of income.
“Gold, silver and bitcoin can protect your wealth… but not your income. When the economy is crashing, stock markets are collapsing, pensions are collapsing and unemployment is rising, a side job can provide you with income. And who knows? Your side business can become the next Amazon or Bitcoin. Pay attention. Be prepared.”
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