cryptocoin.com Robert Kiyosaki, an expert on the crypto money market and finance world, whose predictions we have previously quoted, points to a collapse that will occur with a collision in the global markets and points to valuable assets such as Bitcoin as insurance for investors!
While financial legend Robert Kiyosaki warned of collapse, Bitcoin gave the signal for its rise!
Robert Kiyosaki, the author of the personal finance book Rich Dad Poor Dad, which is well known in the finance and crypto money world, warns investors about the gloomy economic prospects ahead. The famous name, in his statements to his 2.4 million followers on Twitter, says that the economy will eventually witness a collapse. According to Kiyosaki, the must-have assets as insurance against the bleak economic future he envisions are Bitcoin (BTC), gold and silver. The words of the expert are as follows:
Soft landing? Hard landing? Or is it a collision? I call it collision. I hope I’m wrong, but I believe it. Corruption is high and leaders appear corrupt. Get gold, silver, Bitcoin. These assets are still the best insurance against corruption and incompetence.
Earlier this month, Kiyosaki, author of Rich Dad Poor Dad, warned that the rise in US Treasury Bill yields is indicative of an impending recession and that Bitcoin offers the best hedge along with gold and silver. Kiyosaki also raised the alarm about whether the global banking system was collapsing. Kiyosaki, who has been on the rise in Bitcoin for a long time, predicted in April that the leading crypto BTC will rise to $ 100,000. According to the author, Bitcoin will emerge as an attractive investment due to the devaluation of the US dollar and concerns about the health of the banking sector. Bitcoin is trading at $26,820 at the time of writing.
Bitcoin and Ethereum supply falling on exchanges: Is there a Bull in the near future?
According to data from Santiment, the circulating supply of BTC on exchanges currently stands at only 5.7%, marking the lowest level since December 2017 when the cryptocurrency surged to an all-time high of $20,000. Similarly, the supply of ETH on exchanges has dropped to 10.1%, the lowest level since its inception in 2015. This trend shows that crypto investors are actively withdrawing their coins from exchanges and prefer alternative storage methods. On the subject, Santiment quotes the following words:
Bitcoin and Ethereum continue to quietly see more and more of their current supply fall into their custody. While not a perfect indicator, coins falling on the stock market often indicate future bull runs if given enough time.
Especially when it comes to Ethereum, one of the major reasons behind the declining supply of BTC and ETH on exchanges is the growing popularity of staking. The transition of Ethereum 2.0 to a proof-of-stake (PoS) consensus mechanism has provided ETH holders an opportunity to stake their coins and participate in securing the network while earning rewards. This shift towards staking plays a huge role in generating passive income and contributing to the long-term growth and security of the Ethereum ecosystem. On the other hand, the Bitcoin drop on the exchanges is not so clear, but the possible reason can be attributed to investors who want to hold their BTC holdings for a long time. This may be due to fears of the impending global recession, which is causing many to gravitate towards the idea of raising funds for the so-called “bad days”.
What will be the impact on the cryptocurrency market?
Decreased supply of Bitcoin and Ethereum on exchanges could have significant implications for the broader cryptocurrency market, mostly in a positive way. First, it shows that selling pressure is decreasing as fewer coins are available for trading. According to Santiment, this “points to future bull runs”. Due to the limited supply on exchanges, potential buyers may face greater difficulties in acquiring these digital assets, which could lead to increased demand and potentially higher prices for both Bitcoin and Ethereum.
In addition, the decreasing presence of BTC and ETH on exchanges may indicate increased confidence among long-term holders. The fact that investors are more inclined to keep or stake their coins in secure wallets may be a sign of belief in the future potential and value appreciation of these cryptocurrencies. This shift in behavior reflects a maturing market, where participants are increasingly focusing on underlying technologies and long-term prospects rather than short-term trading.
However, both BTC and ETH have not recorded any significant movement in the past week. The price of BTC showed a minor uptrend of 0.3%. BTC rallied from the low of $26,819 seen last Saturday to trading above $27,000 on Thursday.
In contrast, the price of ETH has shown a slight upward trend of 0.6% in the past week. ETH is momentarily traded at $1,816.
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