Cryptocurrencies are exceptionally volatile and investors fall and rise depending on market movement. If the crypto market experiences a severe blow, then investors might lose all their money.
The present crypto market crash is not the first time. Between May and July 2021, the cryptocurrency market fell by more than 52% and another 38% in the month of November 2021.
The crypto industry gained immense traction during the pandemic, but the recent downfall leans more towards an overall market fall.
Also Read : Solana (SOL) Price To Enter Correction Phase, Here are Potential Low Levels to Watch
Global Recession On The Horizon!
Robert Kiyosaki, Rich Dad Poor Dad author is of the opinion that a global recession is on its way and also names several crypto assets including gold saying these are on their potential way out.
Today, the two-year Treasury yield rose higher than the 10-year once again, a similar move seen last week. This reversal is often seen as a signal for a severe market crash and recession in the coming days. Based on this reversal of treasury yield, Kiyosaki expresses his views through a tweet thread and says a market crash is inevitable.
He throws light on his recent visit to the grocery shop as proof of what is happening in the real world.
Kiyosaki continues his twitter thread with a vote now tweet asking if a can of tuna or a silver eagle will be appreciated the most in 2027 and put forth his answer in the next tweet.
As the dollar value is continuing to decrease, Robert Kiyoski blames the US president, Joe Biden for decreasing dollar value and claims Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and also Gold as the best options for investors.