Bitcoin (BTC) Is Above $11K Now, But Soon It Will Drop Along With Gold – Expert

Bitcoin (BTC) is Above $ 11K now, But Soon It Will Drop Along with Gold - Expert

Source: Youtube

The energetic rise of bitcoin traditionally caused the FoMO effect – the Fear of missing out syndrome. However, influential financial market experts are calm. One of them suggests waiting for the crash of BTC in order to buy at the lows.

Robert Kiyosaki, the author of acclaimed economic bestsellers, including Rich Dad Poor Dad, said he expects the gold and digital gold (bitcoin) markets to crash as soon as the COVID vaccine appears. Kiyosaki is well known as a successful investor too. In this situation, he plans to wait for bitcoin to drop in order to buy it at a low price. In his opinion, BTC is the best long-term investment. It is the investment that can protect capital from the problems associated with the US national debt.

Kiyosaki is a US citizen, but nevertheless, he says openly that the US is bankrupt. The country’s debt is today $28 trillion. The States will never be able to return it. Investing in US government bonds means losing money. The expert believes that safe investments are investments in gold, silver, and bitcoin.

Other experts and investors agree with Kiyosaki. It was noticed that in parallel with the growth of the money supply of US dollars in 2020, the number of BTC purchases by large investors and funds increased. The money supply rose as a result of new quantitative easing caused by the coronavirus crisis. Even before the coronavirus crisis, Kiyosaki noted that bitcoin is in a long-term uptrend that will push its price up to $75K by 2023.

At the end of August, in anticipation of the second wave of coronavirus, the Winklevoss brothers, the founders of the Gemini exchange, also predicted a crash in the dollar due to uncontrolled emission. They also criticized gold as a defensive asset. Its problem is that it is difficult to store and transport it. In addition, the supply of gold on world markets is not controlled and is constantly increasing. Bitcoin as digital gold is devoid of all the disadvantages of metallic gold. Therefore, it becomes the best defensive asset. And besides, it is the best asset for investment, since its potential far exceeds the potential of metallic gold.

The capitalization of the precious metal is $9 trillion, the capitalization of BTC is about $200 billion. The brothers calculated that if capitals from the gold markets come to the cryptocurrency market, then bitcoin will rise by 4500%. Moreover, this may happen in the near future, because of the Fed’s policy, investments in the US economy began to decline.