Bitcoin price could bottom out at $10,000 – Robert Kiyosaki
(Kitco News) The collapse of cryptocurrency trading company FTX has dragged the crypto space into a new cycle of fear, uncertainty and doubt (FUD), with Bitcoin also taking a hit. As investors look for prices to bottom, Robert Kiyosaki, the best-selling author of “Rich Dad Poor Dad” for Bitcoin, says it could be $10,000.
The world’s largest cryptocurrency last traded at $16,637, down 17.7% on the week. Bitcoin is now 75.8% of the record high of $69,000, posted about a year ago.
Kiyosaki reminded his followers on Twitter that he is a big proponent of Bitcoin, gold and silver. And will use this sell off in crypto as an opportunity to stock up on Bitcoin if it falls to $10,000-$12,000.
“BITCOIN? CONCERNED? No. I’m a Bitcoin investor as I’m an investor in physical gold, silver and real estate. I’m NOT A TRADER or a flipper. When BITCOIN hits new lows, $10 to $12,000? I’ll be excited, won’t I worried. I’m betting against Fed, Treasury, Biden and betting on G [gold]S [silver]& Bitcoin,” he tweeted on Friday.
BITCOIN? WORRIED? No. I am a Bitcoin investor as I am an investor in physical gold, silver and real estate. I am NOT A TRADER or flipper. When BITCOIN Hits New Bottom, $10 to $12k? I’ll be UP, not worried. I bet against the Fed, Treasury, Biden and bet on G,S and Bitcoin.
— therealkiyosaki (@theRealKiyosaki) 11 November 2022
When Bitcoin started crashing in May, Kiyosaki described it as “good news” and predicted a drop to $20,000.
“I’m waiting for Bitcoin to crash to 20k. Will then wait for a test of the bottom, which could be $17k. Once I know the bottom is in, I’ll back up the truck. Crash is the best time to get rich,” he said.
BITCOIN CRASHES. Good news. As mentioned in previous tweets, I am waiting for Bitcoin to crash to 20k. Will then wait for test of the bottom which may be $17k. When I know the bottom is in, I reverse the truck. Crash is the best time to get rich. Have a good time.
— therealkiyosaki (@theRealKiyosaki) 12 May 2022
His prediction came true when Bitcoin briefly hit a low of $17,000 on June 18.
In another message to his followers in October, the best-selling author said it was time to use the Federal Reserve’s aggressive stance to buy more gold, silver and Bitcoin.
“BUYING OPPORTUNITY: If the FED continues to raise interest rates, the US dollar will strengthen, causing gold, silver and Bitcoin prices to go lower. BUY more. When the FED swings and cuts rates like England just did, you will smile while others cry. Take care,” he tweeted.
BUYING OPPORTUNITY: If the FED continues to raise interest rates, the US$ will strengthen and push gold, silver and Bitcoin prices lower. Buy more. When the FED swings and lowers interest rates like England just did, you will smile while others cry. Have a good time
— therealkiyosaki (@theRealKiyosaki) 2 October 2022
Kiyosaki sees silver jumping to $100 and then to $500 during this decade.
In mid-June, Kiyosaki also offered investment advice to survive this highly inflationary environment, telling his followers to stock up on cans of tuna.
“Best INVESTMENT: Cans of tuna. Inflation is taking off. The best investments are cans of tuna and baked beans. You can’t eat gold, silver or Bitcoin. You can eat cans of tuna and baked beans. Food most important . Hunger the next problem. Invest in the solution. Watch out,” he said.
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