U.Today – U.Today has prepared summaries of the three most significant news of the past day.
‘Rich Dad Poor Dad’ Author Reacts to Accident
Yesterday, Robert Kiyosaki, seasoned entrepreneur and author of the best-selling book “Rich Dad, Poor Dad,” took to the X platform to share his take on the current markets, which are grappling with the “sea of red” storms. In his X post, Kiyosaki stated that he is preparing to buy more precious metals and Bitcoin during this tough time. “Crises are times when the brave get richer and the cowards get poorer… Because they sell or do nothing,” the author wrote, advising his followers to be sharp, stay composed, and “Invest when the cowards quit.” As reported by U.Today, Bitcoin fell to $51,331 the previous day, reaching its lowest level since February. The largest cryptocurrency has collapsed along with other assets amid renewed recession fears fueled by recent US economic data.
(SHIB) add another zero to your price
Although Shiba Inu has managed to rebound from its recent decline, currently trading 18.65% higher at $0.00001335, it is still a long way from $0.00002, a level last seen in mid-July. The reason for SHIB’s decline is a combination of bearish sentiment and market-wide liquidations that have trapped the meme token in a downward spiral along with other assets. This has led to Shiba Inu breaking below significant support levels, with its price settling near $0.00001, a key psychological zone. If SHIB were to fall below this barrier, it would see additional losses and likely add another zero to its value, indicating a bearish investor sentiment. However, if market conditions stabilize, the community and speculative nature of meme coins could trigger a rebound.
Binance CEO Breaks Silence on How Long the Bear Market Will Last
As the market faces extreme fear, uncertainty, and doubt, with Bitcoin falling below $50,000 and liquidations totaling $1 billion in the past 24 hours, Binance CEO Richard Teng took to social media to opine on the latest crash and how long it could last. According to Teng, the recent crash in cryptocurrency and stock markets is due to macroeconomic factors; however, he does not believe they indicate a long-term negative trend. Despite this, the Binance CEO warned that “there is still significant potential for market volatility” due to potential rate cuts by the Federal Reserve and geopolitical issues. Despite the gloomy outlook, Teng advised investors to stay informed and build regardless of the current challenges.
