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The crypto market reversed on Saturday after an earlier drop on Friday, which tracked Wall Street losses amid jitters on banking concerns and trade tensions.
Bitcoin fell to a low of $103,516 on Friday, marking four consecutive days of drop since Oct. 13 as macro uncertainty and liquidity stress kept traders cautious across crypto markets. Gold’s price also fell after reaching a record high at $4,379 earlier on Friday. Silver mirrored the drop in Bitcoin and gold, falling as the broader precious metals group retraced after a steady rally this week.
Investors also considered the ongoing government shutdown, which is in its third week, as lawmakers fail to reach an agreement on the federal budget. During the shutdown, federal agencies have suspended releases of crucial economic data, not allowing investors to properly assess the health of the U.S. economy.
At the time of writing, Bitcoin had recouped part of its losses, up 1.5% in the last 24 hours to $107,292.
In a tweet, “Rich Dad Poor Dad” author Robert Kiyosaki acknowledges a rebound in gold, silver, Bitcoin and Ethereum prices, revealing his excitement about this.
While a rebound is happening across various assets, Kiyosaki calls attention to what he calls the “price of life,” that is inflation, which he claims “makes life harder on the poor and middle class.”
In this light, Kiyosaki urges his followers not to be a victim of a broken and corrupt monetary system.
The “Rich Dad Poor Dad” author went on to define what real money is, which he says is never government money. He names gold, silver, Bitcoin and Ethereum as “real money,” which he says is what is to be saved.
