Rich Dad Poor Dad Author Predicts Bitcoin Is Entering Parabolic "Banana" Zone

Robert Kiyosaki, known for his pro-cryptocurrency stance, believes Bitcoin is about to take off and enter what some are calling the "banana zone."

The "Rich Dad Poor Dad" author explained his optimism about the asset's future in an X post on Wednesday. His enthusiasm stems from a prediction by former Goldman Sachs hedge fund manager Raoul Pal, who noted that the "banana zone" is a phase of exuberant and significant price growth for cryptocurrencies. Pal is credited with coining the term to describe periods of significant price gains.

Robert Kiyosaki Backs Raoul Pal's Bitcoin "Banana Zone" Prediction

Kyosaki's comments come after Scott Melker recently interviewed Pal, who is known for his big picture analysis. Pal said that historically, investments like Bitcoin and other cryptocurrencies tend to do well in the last quarter of U.S. presidential election years.

"The back-end quarter of an election year is the real banana zone for all assets," Pal said. "It always is. So you know, by the fall, there's a good chance that things will completely tear apart. I mean, how long will it take for ETH, Bitcoin, and SOL to break through their recent highs?

In addition, Kiyosaki said that he agrees with Pal's views, given his solid Goldman Sachs background. The author also revealed that Pal convinced him to invest in Bitcoin. He then bought 30 Bitcoins when the asset was worth $6,000.

"Today, the price of these Bitcoins is about $60,000... I continue to buy Bitcoin... more every month," Kiyosaki said. "Thanks to Raoul's You Tube course... I understand why Bitcoin is entering the 'banana zone.'"

Mt. Gox Payout and Fed Nervousness

While Kiyosaki predicted an influx into the 'banana zone,' cryptocurrencies have been falling recently.

Bitcoin fell below $60,000 this week, one of the worst weekly drops in the crypto market this year. The plunge coincided with the announcement of a payout by the bankrupt Mt. Gox exchange. The Japanese exchange is expected to distribute more than $9 billion in Bitcoin and other assets by the end of October.

Investors in Bitcoin spot ETFs also showed negative sentiment. $BTC $ETH $SOL