Covid-19 Vaccines Will Spark Bitcoin Crash
The crash of the Bitcoin (BTC) is impending when the world finds the answer to the pandemic, COVID-19. In other words, when a vaccine for the cure is found that works, the cryptocurrency would fall, as claimed by Robert Kiyosaki.
In a tweet, on September 15, 2020, Robert Kiyosaki, the famous author of the book “Rich Dad Poor Dad,” warned that a functional solution to COVID-19 would send the safe-haven assets to crash.
Kiyosaki also says that the Vaccine crash will be a Bitcoin buying opportunity.
So, “What happens when a vaccine is proven? Gold, Silver Bitcoin will crash and will be a buying opportunity for all investors,” he wrote.
In continuation, Kiyosaki argued that the virus was making the “real” issues at stake for the United States economy in particular. With $26.7 trillion in debt as per the monitoring resource U.S. National Debt Clock, much of which was because of the announced stimulus package for COVID-19 hit, the country is now “bankrupt.”
The tweet states that the “real problem is not pandemic, but the massive U.S. debt. He says that the U.S. is bankrupt with massive $28 trillion balance sheet debt and $120 trillion off balance sheet social obligations.
Gold, Silver Bitcoin is the best investment in the long term.
The reasoning favoring long-term investment in Bitcoin has become more and more public since March’s cross-asset market crash.
In spite of the current strength, the U.S. dollar is widely seen as being in a downward spiral, which will only worsen because of the Federal Reserve Policies. Apparently, the policies are also intended to counter COVID-19 fallout.
The weakness in the U.S. dollar currency index has elated Bitcoin and gold in recent months, underscoring the opposite correlation, which remains a significant consideration for traders.
The Federal Reserve is set to submit fresh comments on the future of its market participation, which would add on to the prospect of dollar volatility. A new trend highlights the increase in Bitcoin price rise in tandem with the Central Bank’s balance sheet.
Kiyosaki, meanwhile, remains an ardent supporter of Bitcoin, whatever the weather. Last August, he urged the investors through Twitter to buy cryptocurrencies before a significant banking crisis appeared.
The Federal Reserve meddling in the economy and the weakening dollar has been the basis of Kiyosaki’s advice. Also, Warren Buffet exiting U.S. Banking Investments and buying gold was another warning bell for the author.
RT host Max Keiser, who is also of the same opinion as Kiyosaki about the economy, forecasted in August 2020, that Bitcoin would hit an all-time high shortly as the current economic situation plays out.