The crypto market is in turmoil as Bitcoin, Ethereum, and other larger cryptocurrencies return to levels last seen in 2020. The number one crypto by market cap lost critical support and descended to the lower area of its current levels. Related Reading | Bitcoin Long-Term Holders Realize March 2020-Like Losses As BTC Crashes At the time of writing, Bitcoin trades at $23,300 with a 16% and 22% losses in the last 24-hours and 7-days, respectively. As the macro-economic outlook seems bleak, with an increase in inflation and U.S. Federal Reserve (FED) set at stopping it, conditions seem to favor the bears. As a result of the recent downside price action, some Bitcoin supporters have flipped and turned their attention to different assets. Robert Kiyosaki, the best-selling author of the financial book “Rich Dad, Poor Dad”, could be counted in this group. Kiyosaki has been a long-term Bitcoin supporter. In 2021, he recommended his audience buy Bitcoin to hedge against a potential economic recession. At the time, the author claimed that a “giant crash” and a “new depression” could hit the U.S. economy. The rise in U.S. dollar inflation, along with an increase in interest rates from the U.S. Federal Reserve (FED), hint at economic hurdles. But Kiyosaki might not have stuck to his own advice, he posted the following via his personal Twitter account: Best INVESTMENT: Cans of Tuna Fish. Inflation about to take off. Best investments a...
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