Gold

Bitcoin

April

<p>By quoting Portfolio Shield&#8217;s inventor, Steven Van Metre, Robert Kiyosaki warned that gold prices could be heading toward a massive correction that could slash the value in half.</p>
<p>At the same time, he reaffirmed his stance that &#8220;cash is trash&#8221; and his belief in the yellow metal as well as bitcoin.</p>
<h2 id="gold-to-drop-hard">Gold to Drop Hard?</h2>
<p>The precious metal has been long praised as the go-to safe haven investment tool, given its history and positive performance in times of economic uncertainty. The past few years have indeed been uncertain, to say the least, with a global pandemic breaking out, a war in Ukraine, and galloping worldwide inflation.</p>
<p>The bullion skyrocketed when during the early days of the COVID-19 pandemic and topped $2,000 to chart a new all-time high. Its performance since then, though, has been somewhat shaky. It dropped below $1,700 a few months down the line, tried its hand at $2,000 once again in 2022 before another correction brought it back down to $1,600 last November.</p>
<p>Nevertheless, the gold bugs propelled a new price surge that helped the asset near its ATH. It failed to breach it and currently sits under $2,000/oz. According to Van Metre&#8217;s latest <a href="https://www.youtube.com/watch?v=vCS0H8_upnM" data-wpel-link="external" target="_blank">analysis</a> on the SPDR Gold Shares, their price is poised to correct further as the RSI has declined recently, while the MACD shows a &#8220;negative cross.&#8221;</p>
<p>By outlining the triple top, which had less and less volume during each consecutive attempt, Van Metre concluded that gold could go down by up to $1,000, which would essentially cut its USD value in half.</p>
<h2 id="kiyosaki-on-gold-and-btc">Kiyosaki on Gold and BTC</h2>
<p>Rich Dad, Poor Dad&#8217;s author has been a long-time advocate of the yellow metal, as well as silver, and bitcoin, since more recently. However, even he warned that Van Metre&#8217;s doomsday scenario for gold could play out as investors and markets are &#8220;tired of waiting&#8221; for the bullion to go higher.</p>
<p>Should gold indeed plummet by up to 50% from its current position, Kiyosaki said he would buy more as he is an investor, not a trader. At the same time, he reaffirmed his belief in BTC, for which he recently <a href="https://cryptopotato.com/rich-dad-poor-dad-author-explains-why-he-loves-bitcoin/" data-wpel-link="internal">explains</a> why he loves it, while also dismissing keeping any cash as it is &#8220;trash.&#8221;</p>
<blockquote class="twitter-tweet">
<p dir="ltr" lang="en">GOLD to CRASH. Steve Van Meter whom I respect predicts gold to crash to $1000. He states markets are tired of waiting for gold to go higher. If gold drops to $1000 I will buy more. I am an investor not a trader. To me, Gold, Silver, &amp;Bitcoin are real money. To me Cash is trash.</p>
<p>— Robert Kiyosaki (@theRealKiyosaki) <a href="https://twitter.com/theRealKiyosaki/status/1650275580561223680?ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank">April 23, 2023</a></p></blockquote>
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<p>The post <a href="https://cryptopotato.com/robert-kiyosaki-doubles-down-on-bitcoin-support-warns-gold-could-tumble-to-1000/" rel="nofollow">Robert Kiyosaki Doubles Down on Bitcoin Support, Warns Gold Could Tumble to $1000</a> appeared first on <a href="https://cryptopotato.com/" rel="nofollow">CryptoPotato</a>.</p>

Robert Kiyosaki Doubles Down on Bitcoin Support, Warns Gold Could Tumble to $1000

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