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Robert Kiyosaki, known for authoring the book 'Rich Dad Poor Dad', recently issued a warning about the potential collapse related to Bitcoin, gold, and silver. Kiyosaki believes that in an assumed bubble scenario bursting, these assets could simultaneously drop sharply.
He shares these insights in the context of Bitcoin reaching a new record high of $123,236 and a price increase of 26.77% since the beginning of the year. While discussing potential acquisition deals in case of a price collapse, Kiyosaki still emphasizes his cautious attitude towards the volatile global economic environment.
Bitcoin, Gold, and Silver Collapse: Kiyosaki's Warning
Robert Kiyosaki declares: "If the bubble bursts, gold, silver, and Bitcoin will suddenly drop sharply," indicating that investors should not be surprised by this scenario. Not wanting to buy more Bitcoin until he has a clearer view of the future economic trajectory, Kiyosaki has previously stirred public opinion with his prediction that Bitcoin would reach $250,000.
Robert Kiyosaki also reminds readers of the 33% correction recorded in April, which pushed the price down to $74,434, a scenario that still looms large in investors' minds. However, he views significant pullbacks as lifetime opportunities and intends to buy heavily during such downturns.
The Decline in Bitcoin's Market Dominance
Despite reaching an all-time high, Bitcoin's market share of the total market value has dropped 6 percentage points to 61% in just two weeks. During this time, Ethereum, Ripple, and several altcoins have attracted significant investor attention with double-digit growth.
Gold, a precious metal, is outperforming Bitcoin with a price increase of 28% since the beginning of the year. Although Bitcoin briefly surpassed this precious metal, the balance of power quickly changed. Analysts suggest that Bitcoin losing its market dominance is due to increasing risk acceptance and portfolio diversification, emphasizing that a market dominance level of 60% is a critical threshold. Below this level, the price increase momentum of altcoins is expected to be even stronger
