Robert Kiyosaki, an American author, and entrepreneur remains unflinching in his belief in the king coin despite the fact that Bitcoin’s price has continued to go down a little bit. Kiyosaki has projected that the price of bitcoin would reach half a million dollars as people lose trust in the United States Dollar, which he views to be fake money.

Kiyosaki’s Prediction

According to the author, a major collapse is on the horizon, and a depression may follow. By the year 2025, the price of gold will be $5,000, the price of silver will be $500, the price of Bitcoin will be $500,000, and the Federal Reserve will be compelled to produce billions of dollars worth of “fake money.” Kiyosaki argues Bitcoin is people’s money.

In a related development, Christopher J. Waller, a governor of the Federal Reserve, has issued a warning regarding the risks associated with investing in cryptocurrencies.

Waller says:

“To me, a crypto asset is nothing more than a speculative asset, like a baseball card. If people believe others will buy it from them in the future at a positive price, then it will trade at a positive price today. If not, its price will go to zero.”

The chart for Bitcoin (BTC) indicates a bearish trend, as the price is moving back toward the support level of $21,500. The breakout might result in a further decline to the $21,200 zone in a short time if there is closure.

At the time of this publication, the cryptocurrency had a value of $21,800. The price has achieved a false breakthrough of the resistance at $22,000 on the daily time frame, even though the volume was rather light.

If the current circumstances do not improve by the end of the trading day, the price may continue to fall until it reaches the $21,200–$21,300 zone, which is the center of the channel. In most cases, there is still time left in the week to address such a circumstance.