Investor and author Robert Kiyosaki is again raising concerns about the state of the cryptocurrency market. In a recent post, he points to what he calls the 'Bitcoin August Curse' and predicts a potential decline in BTC.
Labor Market Troubles
The recent U.S. employment report showed that only 73,000 jobs were added in July, significantly below the expected 104,000. As a result, U.S. stock markets lost over a trillion dollars in a single day, and the price of Bitcoin fell from $118,000 to $114,000.
Political Climate and Its Impact
The labor market situation was further compounded by political events: Trump fired the head of the Bureau of Labor Statistics, accusing her of falsifying data. This created additional pressure on the markets and confirmed Kiyosaki's assertion that authorities are part of the problem.
Bitcoin's Prospects Amid Instability
While Bitcoin has often been seen as a safe-haven asset during crises, the current volatility raises questions about its status. In light of increasing instability and unfavorable data, investors are starting to wonder about Bitcoin's future.
August is traditionally a tough month for Bitcoin, and against the backdrop of economic instability and political turmoil, its future remains uncertain. It will be interesting to see whether the 'Bitcoin Curse' will be confirmed or if the market can recover.
