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“Rich Dad Poor Dad” Author Reacts to Bitcoin Crash

Yesterday, Robert Kiyosaki, seasoned entrepreneur and author of the bestselling book “Rich Dad Poor Dad,” shared his insights on the volatile markets via the X platform. Expressing his readiness to buy more precious metals and Bitcoin, Kiyosaki stated, “Crashes are times when the brave get richer and the cowards get poorer… because they sell or do nothing.” He advised followers to remain calm and invest when others are panicking. Bitcoin dropped to $51,331, its lowest point since February, as recession fears grew due to recent U.S. economic data.

Shiba Inu (SHIB) to Add Another Zero to Its Price

The meme token Shiba Inu has rebounded slightly, trading up 18.65% at $0.00001335, but is significantly below the $0.00002 mark seen in July. This decline resulted from bearish sentiment and widespread market liquidations, pushing SHIB below critical support levels. If it falls beneath $0.00001, additional losses are likely, potentially adding another zero to its value. However, stability in market conditions might encourage a rebound due to SHIB’s speculative nature.

Binance CEO Breaks Silence on Market Duration

In the face of panic selling, Binance CEO Richard Teng commented on the recent market crash on social media. He attributed the downturn in crypto and stocks to macroeconomic factors while downplaying the likelihood of a long-term negative trend. Nevertheless, Teng cautioned about ongoing market fluctuations influenced by potential Federal Reserve rate cuts and geopolitical tensions. He encouraged investors to stay informed and continue building amid challenges.

This article was originally published on U.Today