The crypto markets started the week with a strong bullish push, indicating a promising recovery. The global market cap surpassed $1.26 trillion, and Bitcoin remained above $34,000, which is a favorable position for the bulls. Some altcoins also showed signs of potential breakouts. However, amidst these positive indicators, one analyst warns of a potential bearish scenario for Gold and Silver, emphasizing that Bitcoin may be the only safe haven.
Following the 60/40 Rule May Bring Woes in 2024?
Renowned financial expert Robert Kiyosaki, known for his bestselling book “Rich Dad Poor Dad,” predicts an imminent economic crash that challenges traditional investment advice. Kiyosaki suggests that adherents of the conventional 60/40 investment strategy may suffer significant losses in 2024. Instead, he recommends allocating 75% of investments into assets like gold, silver, and Bitcoin, with the remaining 25% in real estate and oil stocks.
Kiyosaki Bets $1 Million on Bitcoin? Forget Gold and Silver?
Kiyosaki believes that gold, silver, and Bitcoin will be invaluable during times of economic uncertainty and may experience substantial growth when traditional markets decline. He is particularly bullish on Bitcoin, predicting it could reach $120,000 within the next year and even surge to $500,000 per BTC by 2025. If a global economic downturn occurs, Kiyosaki speculates that Bitcoin’s price might reach unprecedented heights, possibly soaring to $1 million.
What’s Creating Panic in Traditional Market?
Kiyosaki’s concerns stem from the extensive money printing by the U.S. Federal Reserve, which raises questions about the stability of traditional currencies, especially the USD. His warnings align with those of many financial experts, prompting investors to consider alternative assets to protect their wealth.
A Lot Can Change Post FOMC Meeting
Bitcoin finds itself in the midst of its second major geopolitical conflict in two years as trouble escalates in the Middle East. The upcoming Federal Reserve meeting on November 1, where a decision on benchmark interest rates will be made, could cause short-term volatility. Despite inflation exceeding market expectations, recent Fed rate decisions have had little impact on Bitcoin.
Market expectations suggest that the Federal Open Market Committee (FOMC) will keep rates unchanged this week. Although Bitcoin has diverged from stock market trends recently, a potential correction in the S&P 500 could challenge this newfound independence. Santiment, a research firm, suggests that this deviation from stock market correlation signals the resurgence of the crypto bull market.
Hot Take: Bitcoin Emerges as the Lifeboat Amid Looming Crash
As the crypto market shows signs of recovery, renowned financial expert Robert Kiyosaki predicts an economic crash in 2024. He challenges the conventional 60/40 investment strategy and recommends allocating 75% of investments into gold, silver, and Bitcoin. Kiyosaki believes that these assets will thrive during economic uncertainty and even predicts Bitcoin’s price could reach $1 million. His concerns stem from extensive money printing by the U.S. Federal Reserve, raising questions about traditional currencies’ stability. As geopolitical conflicts escalate and the Federal Reserve meeting approaches, Bitcoin’s resilience is being tested, but it remains independent of stock market trends.
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