empty
29.05.2023 03:56 PM
Robert Kiyosaki considers U.S. bankrupt, urges investing in metals and Bitcoin

The Bitcoin rate has stalled around a fairly strong resistance level, as has Ethereum. But before discussing the technical picture, I would like to say a few words about how renowned writer and author of the book "Rich Dad Poor Dad," Robert Kiyosaki, views the U.S. debt crisis and the prolonged debt ceiling negotiations. "Politicians debating raising $30 trillion U.S. debt limit bad comedy, 'Kabuki theater," said Kiyosaki.

In his opinion, the U.S. is bankrupt. Unfunded liabilities amount to over $250 trillion. "Financial market 'derivative assets' measured in quadrillions ... thousands of trillions," he wrote on one of the well-known social networks.

This image is no longer relevant

Kiyosaki once again urged people to buy gold, silver, and Bitcoin. The well-known author previously explained that these three investments are best suited for the unstable times we are currently experiencing. Kiyosaki believes that U.S. national debt far exceeds the commonly mentioned figure of $31.4 trillion, indicating a more severe economic situation than is actually acknowledged. According to him, the unaccounted-for or unfunded obligations of the U.S. amount to over $250 trillion.

As early as March of this year, the author of the book "Rich Dad Poor Dad" predicted that the next crash would be in the $1 quadrillion derivatives market. He warned that an increase in the Federal Reserve's interest rate would crash stocks, bonds, real estate, and even the U.S. dollar.

However, for the sake of peace, his post-apocalyptic forecasts have not yet come true, and if anything did happen, it did not seriously impact the market and the economy. Nevertheless, it is worth listening to his recommendations to invest in gold, silver, and Bitcoin, as in the current conditions of the "unfolding" American economy and high interest rates, the metals market and the cryptocurrency market have good growth potential in the next year and a half.

At the end of last week, Kiyosaki expressed concern about the recession in Germany, warning that the U.S. could be next. According to recent data, the German economy experienced a technical recession in the first quarter of this year, but nothing serious happened. Inflation is gradually decreasing, and the activity in the service sector is showing stability, which will help to revive the economy even amid a decline in manufacturing activity. There is no reason to panic here.

The famous author is currently more concerned about the banking crisis, which has bypassed the EU, affecting only one Swiss bank, and even then indirectly. In any case, investing in the cryptocurrency market, which is gradually moving away from the crypto winter, is a quite promising endeavor if one does not try to snatch profits "here and now" but acts wisely and with a long-term perspective.

As for today's technical picture of Bitcoin, it is only possible to talk about further growth in the current circumstances after the $27,500 level is defended. Only then will there be a chance to establish a bullish market with the prospect of reaching $28,200 and $29,000. The ultimate target will be the $31,000 area, where significant profit-taking and a Bitcoin retracement may occur. The focus will be on defending the $27,500 level, followed by $26,700. A breakthrough of this level will be a blow to the asset, paving the way for $25,800. Breaking through this level will "drop" the world's first cryptocurrency to around $23,900.

The focus for Ethereum buyers remains on defending the nearest support at $1,790 and reclaiming the resistance at $1,920. Only after that can we expect a move towards $2,030, which will allow the bullish trend to continue and lead to a new surge in Ethereum to around $2,130. If selling pressure returns to ETH, the $1,790 level will come into play, and a breakthrough of this level will lead to a test of $1,690. Below, the area around $1,640 is visible. Breaking through it will push the trading instrument to a low of $1,570.

Jakub Novak,
Analytical expert of InstaForex
© 2007-2025
Summary
Urgency
Analytic
Pavel Vlasov
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

Trading tips for crypto market on December 4 (North American session)

Bitcoin is making every effort to break above the $94,000 level, but each time it encounters some difficulties during its rise. However, considering that each dip is actively bought

Miroslaw Bawulski 13:53 2025-12-04 UTC+2

Everything happens for a reason

Meanwhile, as Bitcoin tries to determine its next direction, American Bitcoin, a Bitcoin mining company founded by Eric and Donald Trump Jr., reported that it has recently purchased

Jakub Novak 12:33 2025-12-04 UTC+2

New Fusaka update activated on Ethereum blockchain

Bitcoin and Ethereum maintained their positions yesterday, preserving the potential for further recovery following the active sell-off observed on the first day of December this year. Ethereum received additional support

Jakub Novak 09:54 2025-12-04 UTC+2

Trading Recommendations for the Cryptocurrency Market on December 4

Bitcoin approached the $94,000 level but has not yet held a position above it. Ethereum surpassed the mark of $3,100. Amid the relative stability in the cryptocurrency market, BlackRock issued

Miroslaw Bawulski 07:25 2025-12-04 UTC+2

Cryptocurrency as new form of property in UK

As the cryptocurrency market prepares for a new rally, as evidenced by the sharp rise in the fear and greed index, the regulation of cryptocurrencies in the UK has reached

Jakub Novak 13:24 2025-12-03 UTC+2

Bitcoin proves its resilience

Yesterday, Bitcoin surged more than 8%, recovering all the losses from the previous day, and today it has reached the $93,800 mark, clearly aiming for a return to the $100,000

Jakub Novak 09:57 2025-12-03 UTC+2

Trading Recommendations for the Cryptocurrency Market on December 3

Bitcoin has recovered all losses from the previous day and reached a monthly high, trading around $94,000 at the time of writing. Ethereum has also broken above $3,000. The sharp

Miroslaw Bawulski 07:58 2025-12-03 UTC+2

Bitcoin licking its wounds

After yesterday's major sell-off, Bitcoin has dropped to around $84,000, and the market is currently undergoing a correction that could evolve into something more interesting, provided there is at least

Jakub Novak 15:33 2025-12-02 UTC+2

Bitcoin confidently bounces back from $84,000

Bitcoin updated its price to $83,800 yesterday but then made a strong rebound back to around $87,000, where it is currently trading. Ethereum also managed to recover some positions after

Jakub Novak 08:30 2025-12-02 UTC+2

Recommendations for Trading in the Cryptocurrency Market on December 2

Bitcoin continues to fluctuate. Yesterday's update, hitting $84,000, was met with active buying; however, how long this will last is a rather complicated question. The market remains in a bearish

Miroslaw Bawulski 08:03 2025-12-02 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.