Key Insights
- Robert Kiyosaki, a Bitcoin supporter, says that he would be “happy” if Bitcoin crashed.
- Kiyosaki believes that a crash would be an opportunity to buy more.
- Kiyosaki has high expectations for Bitcoin, predicting it will reach $100,000 by June 2024.
- Bitcoin is currently consolidating around $52,000 but may break above soon.
- Analyst Ali sees strong accumulation despite the uncertainty and predicts a possible rally to $55,000-$57,000.
Robert Kiyosaki tweeted something interesting this week.
The “Rich Dad Poor Dad†author announced that he would be “happy†if Bitcoin crashed.
This is interesting because Kiyosaki is no Bitcoin bear.
Here’s everything you need to know about what Kiyosaki was driving at, why some investors fear a possible Bitcoin crash, and why Kiyosaki thinks that this crash wouldn’t be so bad.
Bitcoin’s Resilience and Kiyosaki’s Confidence
Kiyosaki has been a notable backer of Bitcoin, for years.
The bestselling author believes that the cryptocurrency will no doubt deliver strong gains in the long run, despite issues with market volatility.
In a recent post on X last week on 24 February, he addressed a common question he is often asked:
What happens if Bitcoin crashes?
Kiyosaki’s response was both realistic and optimistic.
The renowned investor stated that he would be “happy” if Bitcoin ever crashed from here.
He emphasized that Bitcoin crashes, if anything, serve as opportunities for investors to buy more, and wait for the next pump.
Market Crashes Are Opportunities in Disguise
Kiyosaki also compared Bitcoin with other assets like gold and silver to explain his viewpoint.
In his own words:
“I am often asked, ‘What happens if Bitcoin crashes?’ My reply is the same for Bitcoin, gold, or silver.
I would be happy, and I would buy more once the crashing stops. […] “sale” is my favourite four-letter word.”
Keep in mind that a few days ago, Kiyosaki also lent his opinions on what the next all-time high for Bitcoin would be.
In an 18 February post, he boldly declared that Bitcoin would reach $100,000 by June 2024.
Moreover, Kiyosaki has also blamed the Federal Reserve for the current economic situation in the U.S.
He has so far, urged investors not to focus too much on the FED, and that everyone should consider diversifying with Bitcoin and precious metals.
Overall, while the crypto market will always be volatile, the lesson in all of this is that Kiyosaki encourages investors to view crashes as potential buying opportunities, and not as a reason to panic.
Price Analysis: Why Bitcoin Is Set To Continue Further Upwards
Bitcoin appears to have hit a wall around the $52,000 zone.
The cryptocurrency has spent the last few days in a consolidation between $50,000 and $52,000, in an apparent struggle between the bulls and the bears, according to charts from TradingView.
However, what if there was reason to believe that we are about to see a break above $52,000 very soon?
According to a recent tweet from analyst, Ali, Bitcoin’s consolidation might end in a break above $52,000.
Ali says that despite the uncertainty around $52,000, investors continue to accumulate the cryptocurrency massively, without signs of slowing down.
In the chart above, we can already see some of the warning signs of a rebound from $50,000.
For example, the RSI on the daily chart has declined from overbought conditions and is now holding steady in bullish territory.
Moreover, Bitcoin still trades on top of its 20-day EMA, indicating that despite the consolidation, the bulls have a strong hand on the steering wheel, compared to the bears.
If investors continue to accumulate the cryptocurrency like this, we could be seeing a possible rally to anywhere between $55,000 and $57,000.
Disclaimer: Voice of Crypto aims to deliver accurate and up-to-date information, but it will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.
