The author of Rich Dad Poor Dad, Robert Kiyosaki, has warned investors that a pending market meltdown will send stocks lower on Valentine's Day this year.
Kiyosaki pointed out that market stocks, precious metals, and crypto assets headed by Bitcoin will drop on February 14 due to high-impact news such as the Consumer Price Index.
Kiyosaki cited (1) Stansberry Research in making this observation (CPI). However, Kiyosaki said investors should avoid panicking and use inflating fiat currencies to acquire additional precious metals and Bitcoin.
"Stansberry Research has projected that there will be a mass shooting on Valentine's Day. The prices of everything will plummet, including gold, silver, and BC. Do not panic. Good news." When speaking about the markets, Kiyosaki observed: "I will purchase more G, S, BC, the real money with phony $."
Turmoil in Global Financial Markets
Notable examples of large technology companies laying off workers include Yahoo, which has sent home almost twenty percent of its workforce. The bear market has also impacted businesses associated with crypto currencies, resulting in a number of layoffs at companies such as Coinbase Global Inc.
After a solid advance in practically all markets, since the calendar flipped in January, it is expected that a reversal will take place across the board. This is likely to happen because of the likelihood of a global economic slowdown.
For instance, the Dow Jones and the S&P 500 Index have each accumulated around 2.18 and 6.55 percent of gains year to year, respectively. During January, the price of Bitcoin increased by roughly 40 percent, but during the last two weeks, it has decreased by around 8.3 percent.
The fear of missing out is diminishing, which is expected to result in more losses across global markets as the anticipation of a future economic slowdown grows. In addition, the Federal Reserve has maintained its course of action to tighten monetary policy to counteract excessive inflation levels.
Because of the conflict between Russia and Ukraine, relations between the Kremlin and the west have deteriorated, which means that the price of oil and gas is projected to continue climbing in most countries that do not have their mines.
After restricting imports of Russian crude oil in December, the European Union is now considering imposing a ban on imports of refined petroleum products originating in Russia. These goods include diesel and jet fuel.
Analysts are optimistic that the supply chain will stabilize in the next quarters due to China reopening its overseas markets following Covid-related lockdowns in the preceding three years.
Bitcoin Prices Movement
Following the appearance of the feared weekly death cross throughout the weekend, the price of bitcoin appears to be staring down the barrel of a potential further drop.
A decline in the price of Bitcoin over the next several weeks will have a large and equivalent impact on the market for other crypto currencies, resulting in a surrender of the crypto currency industry.