Robert Kiyosaki, author of the best-selling personal finance book ‘Rich Dad Poor Dad’ has cautioned that Bitcoin (BTC) will likely crash as the asset’s push toward the $100,000 milestone appears to have stalled.
According to Kiyosaki, if the leading cryptocurrency fails to break into new record highs, investors should anticipate a possible plunge to the $60,000 level, he said in a post on X on December 1.
Interestingly, Kiyosaki, a Bitcoin bull, does not view this potential crash as a setback. Instead, he considers it an opportunity to accumulate more of the asset.
Picks for you
He emphasized that the current price, just below the $100,000 mark, is less significant than an individual’s total amount of Bitcoin.
“Bitcoin is stalled short of $100k. That means BTC may crash to $60k. If and when that happens I will not sell. BTC will be having a sale. I will buy more,” he said.
Kiyosaki Bitcoin prediction
Overall, Kiyosaki maintained a bullish outlook for Bitcoin, projecting it will see significant upside in the coming months, with a predicted high of $250,000 in 2025. This optimistic forecast adds to his varied past predictions for the asset.
As reported by Finbold, the financial educator previously predicted Bitcoin would trade at $500,000 in 2024 based on an analysis by an unnamed artificial intelligence (AI) tool. However, some of his forecasts may fall short, as he had also expected Bitcoin to reach $300,000 in 2024—a now seemingly unlikely target.
Meanwhile, Kiyosaki’s prediction of a potential crash comes alongside his urging investors to take advantage of the current valuations.
He warned that once the cryptocurrency surpasses the $100,000 mark, it may become too expensive for the average investor, with ownership likely dominated by the ultra-wealthy.
To this end, he encouraged investors to embrace a ‘Fear of Missing Out’ (FOMO) strategy and acquire Bitcoin before it’s too late. However, investors should be reminded that FOMO carries risks, as this approach can lead to financial losses if it causes individuals to spend beyond their means.
Despite these warnings, Kiyosaki remains optimistic about Bitcoin’s potential role in the financial world. He has praised its ability to protect wealth amid his long-standing projection of a broader market crash and believes Bitcoin will play this role alongside gold and silver.
While Kiyosaki advocates for Bitcoin accumulation, legendary trader Peter Brandt has suggested that expectations of BTC’s potential to deliver financial freedom might be overstated.
According to Brandt, Bitcoin’s bull cycles have significantly ‘degenerated in magnitude,’ indicating the asset’s potential for significant profits may be waning.
Bitcoin price analysis
As of press time, Bitcoin was trading at $97,359, with consolidation below $100,000 persisting. The asset has gained 0.7% and 1% on the daily and weekly charts, respectively.
In summary, Bitcoin is showing resilience below $100,000, but a bullish outlook remains intact as per market players. However, concerns about diminishing bull cycles and high expectations suggest caution for investors.
Disclaimer: The featured image in this article is for illustrative purposes only and may not accurately reflect the true likeness of the individuals depicted.
