Robert Kiyosaki, author of Rich Dad Poor Dad, spoke with Taiwanese actor Jeff Wang about cryptocurrencies on his Youtube channel.
Speaking on his Youtube channel on May 11, Kiyosaki said, “Everyone says that the cryptocurrency market or bitcoin is in bear season. But so are the stock markets and the bond market.” made statements.
Kiyosaki continued his words as follows;
“Cryptocurrencies have started to be highly correlated with stocks and stock markets lately. If you look at the Nasdaq, it has dropped more this year than Bitcoin.”
Taiwanese actor Jeff Wang stated that fiat currencies do not actually create value, but he thinks that some of the cryptocurrencies aim something in the world. In addition, Wang thinks that 98.9% of cryptocurrencies will lose their value.
When asked about the possibility of governments stopping Bitcoin, Wang replied, "Governments will never be able to stop bitcoin. They will only be able to check that it is being converted into fiat money." said.
Experts Speak to Financial Times: Cryptos Correlate With Nasdaq
Edward Moya, senior market analyst at Oanda Forex Company, says the following about the general situation in the markets;
“Bitcoin is falling below some key technical levels as endless selling continues on Wall Street.”
Moya believes that the long-term fundamentals of BTC have not changed in months. However, he states that there are concerns about a possible recession and that it "creates a very difficult environment for cryptos" thoughts. Bitcoin has long been touted as an inflation hedge and safe-haven asset, but that has recently changed, as experts have observed.
Daniel Ives expresses his thoughts in the Financial Times as follows.
“Some investors are trading cryptocurrencies against inflation, but the cryptocurrency market appears to be correlated with the Nasdaq.”