Robert Kiyosaki Warns Bitcoin: "If It Cannot Exceed $100,000, It Will Crash"
The famous investor Robert Kiyosaki, author of the book Rich Dad Poor Dad, stated that Bitcoin (BTC) could face a serious risk of collapse if it fails to achieve its $100,000 target. However, Kiyosaki did not see a possible price drop as a threat, but as a value-added asset for investors.$BTC
i sees this as an opportunity and calls on investors to evaluate this situation.
Kiyosaki stated that if Bitcoin fails to make new highs, the price could fall to $60,000. Noting that such declines offer excellent opportunities for those who want to make long-term investments, Kiyosaki said:
"Bitcoin has stalled just below $100k. This means BTC could drop to $60k. If that happens I won't sell, BTC will be on sale and I will buy more."
Kiyosaki predicts that Bitcoin could reach $250,000 by 2025. Although he previously announced a target of $500,000 for 2024, the likelihood of that prediction coming true is decreasing. However, according to Kiyosaki, Bitcoin still has the potential to be a significant store of value in the long term.
$100K and the FOMO Strategy
Kiyosaki stated that once Bitcoin surpasses $100,000, it could become inaccessible to average investors. In this case, he said, Bitcoin would be largely concentrated in the hands of the ultra-rich. For this reason, he encouraged investors to adopt the "FOMO" (Fear of Missing Out) strategy. However, Kiyosaki does not forget that this strategy carries risks. The famous investor warned as follows:
"FOMO can cause individuals to spend beyond their financial capacity, which can lead to serious financial losses."
According to Kiyosaki, Bitcoin, along with precious metals such as gold and silver, has an important role as a wealth preservation tool. He stated that when the market crashes, Bitcoin will act as a strong safe haven and will be a tool to protect investors’ wealth.
Despite all these positive predictions, famous trader Peter Brandt argued that Bitcoin’s potential is overrated. Brandt stated that the magnitude of Bitcoin’s bull cycles has diminished and the asset’s potential to deliver big gains is now limited.
Bitcoin is currently trading at $97,359 and has been consolidating below the $100,000 level in recent weeks. Bitcoin, which is up 0.7% on a daily basis and 1% on a weekly basis, is forcing investors to adopt a cautious approach amidst the decline in bull cycles and high expectations. Bitcoin will need broader market support to break through resistance levels.