The American economy is experiencing a depression, according to Kiyosaki

Famous writer and businessman Robert Kiyosaki warned that the US economy is in depression.

Question: Is the American economy depressed? Answer: yes. Definition of depression: unsatisfactory economic growth. In other words, the economy can grow, but more slowly than its potential allows. In the fourth quarter of 2023, the economy [Kyosaki means GDP] grew by 3.4%, in the first quarter of 2024 by 1.6%, which is more than double the figure for the previous period,” Robert wrote.

Kiyosaki advises preparing for the consequences of depression, which, in his opinion, will be severe. Robert traditionally calls for getting rid of fiat currency and investing in precious metals, as well as bitcoins, which will protect savings from depreciation as a result of inflation.

In the comments to Kiyosaki’s post, a cryptocurrency trader under the pseudonym Astronomer published a graph of the dynamics of changes in the Bitcoin exchange rate, according to which the cost of the coin will reach a historical maximum of around $200,000 at the end of 2024. Then, as Astronomer believes, the digital asset will become much cheaper amid the economic downturn. But, if this forecast turns out to be correct, then the timely sale of BTC will bring impressive profits even if the cryptocurrency is purchased at the current rate.

Bitcoin exchange rate change on the chart published by Astronomer