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Legendary Investor Warns of Bitcoin & Stock Crash in October
An internationally renowned writer and investor warned of a stock market crash in October that could affect Bitcoin as well.
Sep 30, 2021
1 min read
Anna BakkerNews analyzer

Bestselling author of Rich Dad Poor Dad Robert Kiyosaki predicted "a giant stock market crash in October." According to him, the same fate awaits Bitcoin, as well as gold and silver, writes cryptocurrency.tech.

“A giant stock market crash is coming in October. Why? The Treasury and the Fed will sell too many government bonds. Gold, silver, bitcoin can also crash. It is best to wait out the turmoil in cash. Stocks are dangerous, be careful, "Kiyosaki tweeted.

The investor also spoke about the next repression of China against cryptocurrencies, which last week led to the fall of bitcoin below $ 41,000.

“China's repression against the cryptosphere is caused by intentions to launch a state-owned cryptocurrency. If the US follows China's example, it will also outlaw bitcoin. In this case, the United States will become a centralized state, like China - communism will begin and freedoms will end. Be careful, ”he wrote.

Fed Chairman Jerome Powell on Tuesday invited Congress to join the work on the digital dollar. Speaking before the Senate Banking Committee, the official noted that the laws governing the Federal Reserve could be the basis for issuing the CBDC, but the launch of the process by Congress would be a better option.

Tesla CEO Elon Musk believes that the United States should refrain from trying to regulate the cryptocurrency market. On Tuesday, he said that "cryptocurrencies cannot be destroyed, but the authorities can slow down their progress."

“What will happen to Bitcoin and the cryptocurrency market if incentives begin to wind down? It is highly likely that crypto assets will start to sell off along with stocks. It seems that this may become the moment when discount hunters will not be able to resist the wave of sales and will step aside already in anticipation of not local lows, but a bottom, "the team of Gravity Plus analysts notes.

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