Author of “Rich Dad, Poor Dad” Robert Kiyosaki remains bullish on Bitcoin, although he believes the price may bottom out at a mere $9K.
- On May 13th, Kiyosaki tweeted how profit is made when you buy and not when you sell, classic advice. With this statement he added that he will be buying in at the bottom, predicting $17K or even $11K.
- 5 days later on the 18th, Kiyosaki added that he believes the “Fed and Treasury are corrupt organizations” therefore he remains a bull on Bitcoin and cryptocurrencies, saying that they would “self-destruct before they regain honesty, integrity, and moral compass.”
- Despite being bullish, in March he tweeted “BYE-BYE BITCOIN” and predicted that the Fed was coming after crypto and that they would all get “seized & folded into government crypto.”
Has Bitcoin Neared “The Bottom”?
- Since Kiyosaki’s tweet, Bitcoin has held its price relatively steadily, with a difference in the price of <1%. To reach Kiyosaki’s bottom it will need to decrease and lose at least 68% of the current price, dropping from a current market cap of $548.4B to a market cap of $171.4B.
- Timing the market is a dangerous game with too many variables in play, and although Bitcoin hasn’t reached Kiyosaki’s bottom, yet, and it is unlikely that it will, in these times anything is possible.
