Tag: defends

  • Kiyosaki defends Bitcoin and warns Wall Street as crypto volatility returns

    Kiyosaki defends Bitcoin and warns Wall Street as crypto volatility returns

    Kiyosaki defends Bitcoin and warns Wall Street as crypto volatility returns

    • Kiyosaki accused Wall Street of promoting paper assets that benefit insiders.
    • He said gold, silver, and Bitcoin provide value outside institutional control.
    • His Bitcoin forecast puts the price at $250,000 by 2026.

    As volatility grips the crypto market again, Rich Dad Poor Dad author Robert Kiyosaki has stepped up in defence of Bitcoin and decentralised assets.

    Amid renewed price swings and public doubt over digital currencies, Kiyosaki argued that Bitcoin remains a hedge against centralised financial systems and inflation.

    He described it as “people’s money,” contrasting it with what he calls “fake money” issued by the US Federal Reserve and Treasury.

    While Warren Buffett’s past criticisms labelling Bitcoin as “gambling” resurfaced online, it was Kiyosaki’s response that reignited debate across financial communities.

    His message was clear: the fault lies not with crypto, but with a broken fiat system that he believes Wall Street continues to uphold.

    Fiat risks and distrust in institutions

    Kiyosaki has long rejected the idea that centralised institutions should be the backbone of wealth.

    In his view, the real danger to investors is not Bitcoin’s volatility, but the ongoing reliance on a system driven by inflation and debt.

    He warned that assets like stocks and bonds, frequently promoted by institutional investors, are just as vulnerable to collapse.

    According to him, the core issue is trust. While traditional markets claim to offer safety, Kiyosaki sees them as tools that enrich the powerful while exposing regular people to risk.

    This, he argues, is why decentralised assets like Bitcoin and Ethereum are gaining ground—they provide financial autonomy in an unstable environment.

    He classifies gold and silver as “God’s money” and Bitcoin as “people’s money,” highlighting their independence from government control and printing presses.

    With Bitcoin capped at 21 million coins, Kiyosaki says it offers protection that fiat currencies simply cannot match.

    Kiyosaki’s challenge to the financial establishment

    As Wall Street continues to sell institutional products, Kiyosaki is urging people to reconsider what really holds value.

    He questioned how long investors can trust paper-based assets in a world where central banks can print currency without limits.

    He emphasised that real-world necessities cannot be replaced with financial abstractions.

    “You cannot live in a paper house, drive using paper fuel, or eat paper food,” he wrote, pointing to the artificial nature of fiat-based wealth.

    By comparison, assets like Bitcoin offer a limited-supply, decentralised alternative that he believes is better suited to survive economic instability.

    Bitcoin prediction and market direction

    Amid the broader market uncertainty, Kiyosaki has also made a bold forecast. He predicts Bitcoin could reach $250,000 by 2026, a significant rise from its current level around $95,600.

    While this projection is speculative, it aligns with his belief that decentralised assets will outperform as trust in fiat continues to erode.

    Though Warren Buffett’s view of Bitcoin as speculative persists, Kiyosaki’s message offers a pointed challenge to the financial status quo.

    His comments reflect a growing shift in investor sentiment, where control, transparency, and scarcity are seen as more valuable than institutional assurance.

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  • Polygon (MATIC/USD) defends support as the last testnet launches with a huge milestone

    Polygon (MATIC/USD) defends support as the last testnet launches with a huge milestone

    • Polygon announced the second testnet before going live on mainnet 

    • MATIC has consolidated at $0.8 for the past week

    • The token could resist bear pressure to rise toward $1

    Polygon (MATIC/USD) traded at a support zone at $0.8 on Friday, a level it has held for a week. Although the consolidation is not positive for bulls, it should give hope for a potential recovery. That’s combined with positive cryptocurrency news for the Polygon network.

    According to the latest announcement, Polygon has launched its second and final public testnet. The testnet makes Polygon ready for the mainnet launch in Ethereum, expected in early 2023. The announcement indicated that the testnet was for a new upgrade, dubbed recursion. The upgrade is expected to boost Ethereum scaling significantly. 

    Polygon has lauded the upgrade, which says it is the first zkEVM, a new scaling technology on Ethereum. zkEVM is expected to enhance Ethereum’s speeds and privacy and cut transaction costs. That would make it easier to build dApps. 

    MATIC price is yet to react to the positive developments. However, data from PolygonScan shows that unique addresses on the network are rising. The addresses hit an all-time high of more than 201 million this week. The growth underlines continued growth in the activity that could boost MATIC’s price at a later date.

    MATIC defends the $0.8 zone from the bear pressure

    MATIC/USD Chart by TradingView

    The daily chart outlook puts bears in control of MATIC. The RSI remains below the midpoint, while the MACD indicator is bearish, with weak momentum. 

    However, from the price outlook, MATIC has stabilised around $0.08. Recovery could be underway if bulls continue to build up. Buyers are still few at the support. The price could head towards $1 next in the bull scenario.

    Concluding thoughts

    We remain in a largely bear market. However, MATIC price could find a short-term appreciation if the token recovers at the support. Activity is already building on the network to give buyers hope in the medium and long term.

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