Robert Kiyosaki, the influential author of Rich Dad Poor Dad, recently issued a stark warning to his followers about the current investment climate on X (formerly Twitter).

He characterized the current era as becoming “weird” and advised individuals to exercise caution when considering advice from ostensibly credible sources. Kiyosaki’s message is unequivocal: not all advice is beneficial, particularly in a market where eccentricity can result in investments that are misguided.

Kiyosaki: The Perils Of Misleading Advice

The cautionary tale of Kiyosaki is based on a personal anecdote concerning Iraqi dinars. He described how a woman approached a friend and recommended investing in these dinars, asserting that “Jesus told me to tell everyone that Iraqi Dinars are the safest and the finest.”

When times get wierd….the weird turn pro.

A friend was pitched an investment in Iraqi Dinars. I do not know anything about the investment potential of Iraqi Dinars.

What was WIERD was the person pitching the deal.

She said “Jesus told me to tell everyone that Iraqi…

— Robert Kiyosaki (@theRealKiyosaki) September 30, 2024

This unconventional endorsement prompted Kiyosaki to underscore the significance of evaluating the source of financial advice. In uncertain times, even well-meaning advice can lead investors astray, as he stated, “Be extra careful” about whom you attend to.

Many individuals who are currently navigating an increasingly intricate financial landscape will find his comments to be resonant. Consequently, the likelihood of succumbing to fraudulent recommendations increases as a growing number of individuals utilize social media platforms to obtain investment advice.

Kiyosaki’s cautionary tale serves as a reminder that mere assertions of divine inspiration do not necessarily imply that the advice they offer is sound.

BTCUSD trading at $61,713 on the daily chart: TradingView.com

A Change In Investment Strategy

But he still urges for a systemic change in investments, using these cautionary tales. He thinks the old 60/40 stock-to-bond formula is outdated and flawed.

He recommends that investors should invest 75% of their portfolios in gold, silver, and Bitcoin while keeping the remaining 25% in real estate and oil stocks. His motive is to make a cushion against what he believes is going to be one of the worst financial catastrophes in history with this diversification.

Robert Kiyosaki. Image: New Trader U

What is unique about Kiyosaki’s belief in Bitcoin is that he feels it will hit $1 million per coin by 2030. He wants his followers to begin stockpiling Bitcoin and accumulating precious metals now. He argues that such assets will act like a safe haven when the national currencies decline.

Preparing For Uncertain Times

Kiyosaki cautions that the future may be bleak for money as we know it. He emphasizes the potential impact of advancements in artificial intelligence on global finance. He believes that AI has the potential to significantly disrupt traditional financial systems and contribute to economic upheaval.

Kiyosaki advises against investing in bonds or storing money in anticipation of this impending turmoil. Rather, he suggests that one concentrate on tangible assets, such as genuine gold and silver coins, which could be utilized as cash during times of crisis. His perspective is indicative of the increasing sentiment among investors who are seeking stability in the face of uncertainty.

Featured image from Early Christian Texts, chart from TradingView

Historically, October has been a bullish month, often celebrated as “Uptober.” However, this year, October has kicked off with considerable turmoil as geopolitical tensions between Israel and Iran escalate.

This conflict has had a far-reaching impact on global markets, with cryptocurrencies bearing a significant brunt of the fallout.

Bitcoin Falls to $60,200 Due to Crypto Liquidations

On October 1, Iran launched a major missile attack on Israel. This marked the second such assault this year, following a similar incident in April. The situation prompted a stern warning from Israeli Prime Minister Benjamin Netanyahu, who promised “consequences” in retaliation.

These events have plunged global markets into a state of heightened uncertainty, affecting cryptocurrencies significantly.

As tensions soared, the crypto market experienced immediate repercussions. Bitcoin’s value tumbled to just below $60,200, marking a sharp 6% decline from its previous high of around $64,000. Consequently, the market witnessed extensive liquidations, with Coinglass reporting that liquidations over the last 24 hours amounted to a staggering $523.37 million.

Read more: How To Trade Crypto on Binance Futures: Everything You Need To Know

Long positions were predominantly affected, with $451 million liquidated, while short positions saw more than $71 million erased. This market volatility resulted in the liquidation of 154,011 traders, with the largest single order valued at $12.66 million occurring on Binance in the BTCUSDT pair.

Moreover, the US spot Bitcoin ETFs recorded substantial outflows. Data from SoSoValue indicated that on October 1, there were aggregate outflows of $242.53 million, marking the largest outflow in nearly a month and the third-largest in five months.

The Fidelity Wise Origin Bitcoin Fund (FBTC) saw the heftiest outflow, losing $144.67 million, followed by substantial withdrawals from the ARK 21Shares Bitcoin ETF (ARKB) and other funds. Contrarily, BlackRock’s iShares Bitcoin Trust (IBIT) bucked the trend, registering an inflow of $40.84 million, continuing its 15-day streak of no outflows.

The market events have also influenced investor sentiment. The crypto fear and greed index has now regressed to the “fear” category, dropping to a level of 42 from a neutral score of 50 just the day before. This shift highlights the market’s sensitivity to external geopolitical disruptions and their potent ability to influence investor behavior.

Read more: What Is the Crypto Fear and Greed Index?

Despite the current downturn, some market experts maintain a positive outlook on Bitcoin’s prospects. André Dragosch, European head of research at Bitwise, suggests that Bitcoin tends to recover well after major geopolitical risks.

“Geopolitical news should generally be faded,” Dragosch said.

Echoing this sentiment, a recent BlackRock report posits Bitcoin as a viable safe haven during global crises. The report lauds Bitcoin’s decentralized and non-sovereign characteristics, which protect it from geopolitical shocks and economic uncertainties that often afflict traditional assets.

Pseudonymous crypto analyst @pakpakchicken on X (formerly Twitter) is one of the analysts who were able to correctly call the market bottom during the Bitcoin price decline back at the start of September. With the prediction playing out as expected, the crypto analyst has once again taken to the social media platform to inform Bitcoin investors of what they should do next as the price continues its recovery.

Bitcoin Could Keep Going Up

Back in early September, the crypto analyst shared a liquidation heatmap that showed that the majority of Bitcoin traders had suffered massive losses. The decline below $57,000 wiped out the majority of positions, propelling liquidations to new highs. At the time, the crypto analyst encouraged investors to get into Bitcoin as the price crash was the time to get into the cryptocurrency.

As the analyst explained, the times when traders make the most money are when they actually buy during times when the market is down. Then to top it off, he explained that the Federal Reserve would be cutting rates, which would propel the Bitcoin price higher. As expected, the Fed did cut rates last week, pushing Bitcoin and the crypto market into the green.

Now that the Bitcoin price is on the up and up, the crypto analyst explained that it is time to switch strategies. While profit-taking may be enticing during times like this, he urges investors to hold on and wait for better prices. Mainly, the advice is that the investors hold into 2025.

“We’ve been programmed to take profit for chopping markets, we forget how is it like during trending markets,” the crypto analyst said. “Switch your strategy. It’s time. Don’t take profit too early. Be more tolerant to dips. For now, I see a clear path to mid 2025.”

Entering A Bullish Quarter

Bitcoin is on the verge of recording its most bullish month of September so far, suggesting that the next few months will be very bullish for the cryptocurrency’s price. So far, according to data from the Coinglass website, the Bitcoin price is already up 7.28%, beatings its September 2016 record of 6.04%.

However, what is most interesting about the month of September closing in the green is what has has occurred during the years when this month has closed in the green. Any time September has ended in green, the months of October, November, and December have also ended in green.

Given this, if the Bitcoin price were to close out the month of September in the green, then it is expected that the fourth quarter of the year will continue the recovery. In this case, the BTC price could end up actually reaching a new all-time high before the year 2024 is over.

Featured image created with Dall.E, chart from Tradingview.com