Amid increasing global economic uncertainty and a cautious outlook on interest rate cuts from the Federal Reserve, Robert Kiyosaki, the author of the bestselling book "Rich Dad Poor Dad," has issued a stern warning of a "massive crash" and urged investors to protect their wealth by allocating silver, gold, Bitcoin, and Ethereum. Meanwhile, the cryptocurrency market is brewing a series of significant events: Nate Geraci, president of The ETF Store, predicts that the first spot XRP ETF will be launched within the next two weeks, while the European Union plans to propose a unified regulatory framework for cryptocurrency exchanges in December. These signals point to a conclusion: the global financial market is on the brink of major changes, and the future of Web3 finance is filled with challenges and opportunities.
- Kiyosaki's "Crash" Warning: Safe Haven Choices for Risk Assets
Robert Kiyosaki has once again made headlines, stating, "A massive crash is about to begin: the wealth of millions will vanish. Protect yourself. Silver, gold, Bitcoin, and Ethereum investors will protect you. Take care."
Concerns about Traditional Finance: Kiyosaki has long been critical of fiat currency and the traditional financial system, believing that their inherent vulnerabilities will lead to a massive crash.
Hard Assets and Cryptocurrencies: He advises investors to allocate traditional hard assets like silver and gold, as well as decentralized digital currencies like Bitcoin and Ethereum, viewing them as safe havens to protect wealth during economic turmoil.
- Cautious Outlook on Federal Reserve Rate Cuts: Suppressed Demand for Risk Assets
The current macroeconomic situation is complex, and statements from Federal Reserve officials have led to a cautious outlook on future rate cuts, suppressing demand for risk assets.
Bitcoin Decline: 10x Research reported that Bitcoin (BTC) is currently below the 7-day moving average (bearish) and below the 30-day moving average (bearish), with a weekly increase of +1.8%, following comments from Federal Reserve officials.
Macroeconomic Factors and Institutional Capital Dynamics: Under the interplay of macroeconomic factors and institutional capital, BTC has been fluctuating around the low of $110,000, with price movements clearly influenced by policies and capital flows.
Federal Reserve's Hawkish Stance: CryptoQuant analyst Axel stated that the Federal Reserve's hawkish stance ahead of the December meeting and the recent 7 basis point increase in two-year Treasury yields indicate that the market does not expect a rapid rate cut. This limits the upside potential and effectively suppresses risk appetite, leading to increased volatility in Bitcoin prices.
- XRP ETF: The "Final Blow" to Regulators Against Crypto?
Amid increasing macroeconomic uncertainty, positive developments within the cryptocurrency industry continue to emerge.
Expectations for the XRP ETF: Nate Geraci, president of The ETF Store, analyzed that he expects the first spot XRP ETF to be launched in the next two weeks.
Impact on Anti-Crypto Regulators: Geraci believes that the launch of the spot XRP ETF will serve as the "final blow" to previous anti-crypto regulators. He pointed out that the U.S. Securities and Exchange Commission (SEC) has been suing Ripple for the past five years, only concluding three months ago, indicating that the crypto industry has come a long way in its path to compliance.
- New Regulatory Trends in the EU: Unified Regulation and Capital Market Union
The European Union is also taking proactive steps in cryptocurrency regulation, aiming to establish a more unified and efficient regulatory framework.
Unified Regulatory Proposal: According to a recent report by the Financial Times, the European Commission plans to propose a measure in December to centralize the regulation of stock exchanges, cryptocurrency exchanges, and clearinghouses under one authority, modeled after the U.S. SEC.
"Capital Market Union": This initiative aims to establish a "Capital Market Union" to facilitate cross-border expansion for small financial startups without needing approval from numerous regional and national regulatory bodies.
Expansion of ESMA's Powers: One proposal is to expand the existing powers of the European Securities and Markets Authority (ESMA) to cover significant cross-border financial entities, such as stock exchanges, cryptocurrency companies, and other post-trade infrastructures.
Controversy and Support: Although this proposal is "quite controversial," both European Central Bank President Christine Lagarde and her predecessor Mario Draghi support it. Recent reports from Reuters indicate that Lagarde also backs Germany's call for the establishment of a single European stock exchange.
CBDC and RWA: In recent months, the European Commission and EU finance ministers have taken several measures aimed at centralizing regulation in key areas of cryptocurrency, from stablecoins to exchanges. Lagarde and EU finance ministers recently reached an agreement on a roadmap for issuing a Central Bank Digital Currency (CBDC) for the Eurozone, and the European Commission plans to propose measures regarding the tokenization of real-world assets in December.
- Institutional Demand and Long-Term Bullish Outlook: Intrinsic Support for Bitcoin
Despite the uncertainties brought by macroeconomic factors and Federal Reserve policies, institutional demand for Bitcoin and long-term bullish sentiment remain strong.
Strategy Quarterly Earnings: Strategy reported quarterly earnings benefiting from its Bitcoin holdings, further reinforcing institutional demand.
Advancements in Crypto Legislation and ETF Applications: The momentum for U.S. crypto legislation and ETF applications continues to grow, sustaining long-term bullish sentiment for Bitcoin.
Signals from Michael Saylor: Michael Saylor recently posted Tracker information on the X platform, stating, "Orange is the representative color of November." This suggests that Strategy may disclose Bitcoin accumulation data this week, which is typically interpreted by the market as a bullish signal.
Technical Indicators: Renowned analyst PlanB stated, "The monthly RSI for Bitcoin is 66, showing a strong upward trend."
Conclusion:
Robert Kiyosaki's warning of a "massive crash," combined with the cautious outlook on Federal Reserve rate cuts, forms a complex picture of the current global financial market. However, positive developments within the cryptocurrency industry, such as the anticipated launch of the XRP ETF, the advancement of unified regulation in the EU, and the intrinsic institutional demand and long-term bullish sentiment for Bitcoin, all indicate that Web3 finance is on the brink of significant changes. Investors should remain vigilant about risks while also paying attention to the opportunities that these emerging assets may bring.
Related Reading: Bitcoin (BTC) has achieved a market capitalization increase of $8 billion, but the recovery still lacks ETF capital inflow.
Original Article: “Kiyosaki Warns of a Massive Crash Ahead, Gold and Bitcoin (BTC) Emerge as Safe Havens”
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