Robert Kiyosaki reveals the reason behind the collapse of the cryptocurrency market

the Cryptocurrency marketR The company was rocked by a dramatic collapse, leaving investors on edge as $712 million in liquidations compounded the turmoil. Bitcoin, which was recently hacked $100,000 barrieris now under severe pressure after the sharp decline. Concerns about upcoming economic events, including the release of Federal Open Market Committee meeting minutes and US jobs data, have increased uncertainty in the market. Analysts warn that Bitcoin’s trajectory could worsen if it fails to hold the critical support level of $95,668.

Minutes from the December FOMC meeting, scheduled for release today, are expected to further excite the market. Experts stress that economic indicators such as labor market data will play a pivotal role in shaping investor sentiment, making this a crucial week for traders.

Robert Kiyosaki’s insights into collapse

Amid the turmoil, financial writer and Bitcoin advocate Robert Kiyosaki, known as… Rich dad and poor dadIt affected the accident. Kiyosaki linked the downturn to policies resulting from the financial crisis in 2008, especially decisions made by then-Fed Chairman Ben Bernanke.

He criticized the focus on bankers’ bonuses at the expense of the wider economy, and compared this to current financial struggles in sectors such as housing, retail and cars.

Bitcoin’s long-term potential

Despite the bear market, Kiyosaki remains steadfast in his belief in Bitcoin, gold, and silver. He believes that the current decline represents an opportunity for investors to build wealth by acquiring these valuable assets.

Even as the price of Bitcoin fell by about 6% to $95,845, with trading volume rising by 36% to $66 billion, Kiyosaki described this decline as “great news.” He attributes his optimism to the scarcity of Bitcoin, with only 2 million Bitcoins left to be mined, cementing its status as “digital gold.”

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The sell-off continues to weigh heavily on traders, with $561 million worth of long positions liquidated as markets opened today. Binance recorded the largest liquidation order, totaling $17.74 million in ETH/USDT.

Altcoins are suffering huge losses

The collapse did not spare other cryptocurrencies. The value of Ethereum fell by more than 8%, Solana by more than 9%, and Ripple by 5%. As investors brace for more volatility, market participants are closely monitoring economic developments to navigate these choppy waters with minimal risk.

The cryptocurrency market may be down, but with the limited supply of Bitcoin and growing investor interest, it is clear that the comeback will be stronger than ever.