Rich Dad Poor Dad’s Robert Kiyosaki Predicts “Huge Stock Market Crash” in October – Says “Bitcoin Could Crash, Too” – Markets & Prices Bitcoin News

Robert Kiyosaki, author of the best-selling book “Rich Dad Poor Dad,” predicts a “huge stock market crash” in October. He believes that “Bitcoin could also crash.” The famous writer also gave his opinion on China’s crackdown on cryptocurrencies.

Robert Kiyosaki warns of ‘huge’ market crash in October

Prominent author and investor Robert Kiyosaki predicted a “huge stock market crash” in October, noting that gold, silver and bitcoin could also crash.

Rich Dad Poor Dad is a 1997 book by Kiyosaki and Sharon Lechter. It has been on the New York Times bestseller list for over six years. The book has sold over 32 million copies in over 51 languages ​​in over 109 countries.

Kiyosaki tweeted on Saturday:

There will be a huge stock market crash in October. Why? Treasury and Federal Reserve lack Treasury bills. Gold, silver, bitcoin could also crash. Cash is best for picking up bargains after a crash. Don’t sell gold, silver, bitcoin, but have a lot of cash for life after the stock market crash. Stocks are dangerous. Be careful.

Kiyosaki has been outspoken in predicting the biggest market crashes. In June, he warned that the “biggest crash” in world history was coming as the “biggest bubble” in world history was “getting bigger.” He suggested buying more gold, silver and bitcoin at the time.

“Bitcoin has the most upside. With the dollar depreciating, Bitcoin and silver are the best investments,” the famous author said in August. He also shared, “The main reasons I invest in Bitcoin, gold, and silver. It’s because I don’t trust our leaders, the Fed, the Treasury, and the stock market. Unfortunately, moms and dads who save money do that.”

On Friday, following news of China’s crackdown on cryptocurrencies, the Rich Dad Poor Dad author commented:

China announced a new crackdown on cryptocurrencies this morning. what does that mean? This means that China is about to launch its government cryptocurrency. If the US follows, the Fed coin means bitcoin is outlawed, the US becomes a centralized government, just like China, American communism begins and our freedom ends.

Although China is already vigorously testing a digital yuan, the Federal Reserve has yet to decide whether to issue a central bank digital currency (CBDC). Federal Reserve Chairman Jerome Powell said last week that the central bank would soon issue a discussion paper on the topic.

China’s crackdown on cryptocurrencies is seen as positive news by some, including several U.S. lawmakers who say China’s crackdown on cryptocurrencies is a great opportunity for the U.S. to take the lead in the cryptocurrency space. “China’s authoritarian crackdown on cryptocurrencies, including bitcoin, is a huge opportunity for the United States and a reminder of our enormous structural advantage over China,” Senator Pat Toomey argued.

What do you think of Robert Kiyosaki’s prediction? Let us know in the comments section below.

Kevin Helms

As an Austrian economics student, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open source systems, network effects, and the intersection between economics and cryptography.

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