“Savers are losers”, invest in bitcoin, says Robert Kiyosaki!

The following phrase was also used in his investing book rich dad poor dad, where the habit of the poor father is to save money. “A dollar saved is a dollar earned“, said his poor father, according to Rober Kiyosaki, without realizing that after 1971, his dollar was no longer money. Since Richard Nixon changed the rules of money in 1971, the dollar ceased to be money and became a currency according to Kiyosaki,

Next, Kiyosaki claims that the current US debt is in the hundreds of trillions and that real inflation is 16%, not 7%. He claims that the Fed’s interest rate hike will destroy the US economy.

Robert Kiyosaki predicted in May this year that Bitcoin could bottom out at $17,000 or even $10,000.

Bitcoin price currently sits at $19,821.82 according to data from CoinGecko, after dropping as low as $17,627.3 at the start of the year.

Has bitcoin bottomed out?

In many long-term investment charts, bitcoin has reached oversold levels, such as the Bitcoin Investor Tool: 2-Year MA Multiplier. The purpose of the chart is to highlight periods when buying or selling bitcoin would have produced higher returns. Buying bitcoin when the price has fallen below the 2-year MA (green line) has historically generated higher returns for investors. Bitcoin price is currently below the green line.

Another chart that indicates oversold levels is the Bitcoin Rainbow price indicator. According to this indicator, bitcoin is currently in “fire sale“.

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