Although Bitcoin (BTC) has lately been correcting way below its this year’s and all-time highs (ATH), popular investor and best-selling finance author Robert Kiyosaki has shared a view that the price of the flagship decentralized finance (DeFi) asset would soon begin its meteoric rise.
Specifically, the author of the best-selling personal finance book ‘Rich Dad Poor Dad’ discussed the possibility of Bitcoin (BTC) entering the so-called ‘Banana Zone,’ expressing his firm belief that the maiden cryptocurrency will, indeed, go parabolic, in his X post on June 26.
What is Bitcoin’s Banana Zone?
As it happens, the CEO of Real Vision and a macroeconomy guru, Raoul Pal, coined this term to describe a potential parabolic surge for Bitcoin, and Kiyosaki has agreed with his view, which he noted was “creating a lot of excitement,” and arguing that the macroeconomist knew what he was talking about:
Picks for you
“Yes, I believe Raoul PAL knows what he is talking about. (…) ‘The Banana Zone’ is when Bitcoin lifts off… goes parabolic… creates a sine curve… when people say ‘I should have bought some’… or ‘I should have bought more.”
Furthermore, the finance educator stressed Pal’s “professional experience as a high ranking executive of Goldman Sachs (NYSE: GS) and because years ago, Raoul personally recommended I begin investing in Bitcoin. Because of his encouragement I bought 30 Bitcoin at $6,000.”
Bitcoin vs. fiat
According to Kiyosaki’s observations, Bitcoin currently stands at around $60,000, but he continues to buy “more every month,” adding that, thanks to Pal’s YouTube lessons, he now understands why Bitcoin is entering the “Banana Zone,” as well as pointing out the main difference between it and fiat money:
“Simply said: Bitcoin is ‘rules based money.’ Government’ fake fiat money is ‘debt based’ money. ‘Rules based money’ makes you richer. Government fake ‘debt based’ money makes you poorer. Hang on tight as Bitcoin lifts off into the ‘Banana Zone.’”
As a reminder, Raoul Pal had earlier this month predicted a massive surge in Bitcoin price, as well as the overall crypto market in the fourth quarter of the United States presidential election year, as he told professional crypto trader Scott Melker for an episode of Melker’s podcast streamed on June 20. According to him:
“The backend quarter of an election year is true banana zone for all assets. It always is. So you know that you’ve got a very, very, very high probability that by autumn things are utterly ripping.”
More recently, Kiyosaki shared his Bitcoin trading strategy, which simply involved buying when most people are selling and then holding onto it indefinitely, mimicking, as he said, Warren Buffett’s ‘buy and hold on forever’ approach and focusing on “building new assets,” as Finbold reported on June 25.
Meanwhile, the largest asset in the crypto industry by market capitalization was at press time changing hands at the price of $61,706, reflecting an increase of 1.53% on the day, as it moves to reverse the loss of 5.55% across the week, as well as the accumulated drop of 10.09% in the past month.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
