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Bitcoin is heading for its worst month since 2011; The author of ‘Rich Dad’ calls it ‘good news’



Bitcoin is entering its worst month since 2011, and one big investor said it was “good news.”

“Bitcoin collapses, good news,” says Robert Kiyosaki, author of the book. “Rich dad and dad” tweeted Sunday. That said, it’s a good buying opportunity. “When the price hits $27,000, I might start buying again. Lot is based on macro global environment. Remember the problem is not gold, silver or Bitcoin. The problem is the incompetence of the Fed & Wall Street government. Remember gold was $300 in 2000.”

In April, Kiyosaki predicted in an interview that the price of bitcoin would reach $1 million in the next five years. However, he said he prefers investing in gold and silver. by calling it “God̵

7;s Money”

Gold Futures GC00,
+0.07%
It is trading above $1,900, up 8% this month, while the silver SI00.
+0.16%
It’s above $28 and up about 8% in May.

Kiyosaki is an outspoken critic of the Fed, the Treasury Department and the Biden administration. Call them “losers” and socialists. and predicted the death of the dollar

Crypto Prices Drop Moderately During Memorial Day Weekend By avoiding the worst fears of some investors who predicted a “bloodless” weekend of bears.

while bitcoin BTCUSD
-1.94%
Dropped about 5% on Saturday, rebounded on Sunday. and was up about 4% over the previous 24 hours as of Sunday evening. It trades in the range between $33,000 and $37,000 Ethereum ETHUSD,
-2.91%
Prices similarly fell about 6% on Saturday and recovered on Sunday, rising more than 5% in the previous 24 hours. Dogecoin DOGEUSD,
-1.31%
also rebounded during Saturday and Sunday And the price remains the same even after the Friday session ends.

Cryptocurrencies trade 24 hours a day, including Memorial Day on Monday. And each day’s session ends at 5:00 PM Eastern.

But bitcoin fell more than 37% in May. This is the digital currency’s worst monthly performance since September 2011. The Bitcoin price hit a low of $2 in October 2011.

Since mid-April peaking at $65,000, Bitcoin has fallen about 45%.

Despite the difficult few months, bitcoin is still up 24% year-over-year and about 270% over the past year.




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