Robert Kiyosaki: The dollar will crash by January, Bitcoin will save the “broken financial system”

American entrepreneur, investor, and author Robert Kiyosaki predicts the near collapse of the dollar. In his opinion, one of the world’s primary reserve currencies will crash as early as January 2023, and when that happens, Bitcoin will become more popular for investing. However, given the market volatility, it is still unknown what will happen to the cryptocurrency in three months, but several experts are confident that BTC will be fine. 

Why will the dollar fall?

Robert Kiyosaki predicts that the dollar will fall by January 2023 after the U.S. Federal Reserve changes course. The expert formed his position after the British pound fell against other currencies last week and the Bank of England took urgent action under the bond-buying program to settle the markets. In this regard, Kiyosaki suggested that the dollar may follow the same path, and if it happens, it will happen in three months. 

“I believe the U.S. dollar will crash by January 2023 after [the] Fed pivot. As the Federal Reserve raises interest rates, there will be buying opportunities in gold, silver, and Bitcoin. When [the] Fed pivots and drops interest rates, you will smile while others cry,” he said. 

He also added that those crashes are great times to get rich. This is not the first time Kiyosaki predicted the collapse of the dollar and the U.S. economy. Earlier, he urged investors to invest in “real money,” citing Bitcoin as an example of such investment. In his opinion, the sooner people start dealing with cryptocurrencies, the better before the global economic collapse.

What will happen to Bitcoin by January 2023? 

There are three months until January, and even if everything will be fine with the coin by 2023, the near future is critical for Bitcoin and the stock market. According to cryptocurrency analyst and trader Alessio Rastani, it will be clear whether the market is heading towards a short-term or long-term recession in the next few weeks. The specialist believes that the growth of the S&P will take place from October to December 2022.

In an interview with Cointelegraph, he noticed that if that bounce or rally fails and drops back down again, then very likely, we’re entering a long-term recession and something very close to or similar to 2008. He added that such a recession could last until 2024 and negatively impact the cryptocurrency’s price. Thus, if Alessio Rastani’s prediction is correct, the bitcoin position will not be much better than the dollar. 

As for the dollar, the expert holds a similar opinion to Kiyosaki; he believes in a gradual but falling currency. 

“Once we see a clean break, a sustained break, of 111.5 and 110 levels on the dollar index, I think the top is in for the dollar. And then I’m looking for a multi-month decline in the dollar back to 104 to the 100 level on the dollar index,” he said. 

Crypto entrepreneur Carl Runefelt, CEO and founder of TheMoonGroup, also believes in the success of cryptocurrencies and that they will be the savior of a broken economic system. In his opinion, the growth and interest in digital assets will take place over the next few years, Arabian Business reported. The expert has invested in over 400 crypto startups, which undoubtedly shows his trust and confidence in the industry. 

Mass crypto withdrawal 

Alarmingly, investors withdrew more than 34.5K BTC from exchanges on September 30, Santiment reported. This is almost a record cryptocurrency withdrawal, not counting the massive sale of Bitcoins in June 2022, when the price jumped by 22%. According to experts, such actions could mean investors are preparing for the next quarter with increased confidence.

Users who store digital assets on exchanges do not own them because the cryptocurrency is stored on the platform, so hodlers are advised to keep their funds without relying on DeFi exchanges. The recent platform withdrawals may indicate that investors want to keep their funds. 

If investor withdrawals continue, it could affect the value of cryptocurrencies. Also, according to experts, the growth of cryptocurrency can be hindered by the energy crisis, especially the recent damage to Nord Stream 1 and 2. However, everything will change after the problem is solved. As of this writing, Bitcoin is trading at $19.2K per coin, but we may expect price spikes over the next two weeks. 

In this scenario, we can expect an even more significant decrease in the number of crypto billionaires shortly. According to the Forbes 400 list, there are now only four, while in 2021, there were three more. It is known that most suffered from the Terra blockchain crash. At that time, the value of BTC fell by 70%, and other cryptocurrencies followed in its wake, compared to the historical maximum. 

According to investor Vinco, the wave of resignations of CEOs of well-known companies only shows their involvement and work under the Ponzi scheme, so until the bear market is not over, the resignations and the collapse of lousy crypto projects will continue.

Voyager CEO resigns.
Celsius CEO resigns.
Kraken CEO resigns.
Terra CEO resigns.
MicroStrategy CEO resigns.
Compute North CEO resigns.

As the bear market continues, many crypto criminals are running away as their Ponzi collapses.

— Vinco (@CryptoVinco) September 27, 2022

To summarize, given the intense volatility of the cryptocurrency market and the current situation in the world as a whole, perhaps it would be more logical to refer to forecasts that estimate the position based on no more than a month. What Robert Kiyosaki and Alessio Rastani talk about makes sense. Still, taking into account the chaotic and constant change of moods in the world, we can’t be sure what will happen tomorrow, and we should not rely much on predictions about what will happen in three months or even a year when studying the market.