Bitcoin plummeted below $95,000, sparking discussions among investors. Prominent entrepreneur Robert Kiyosaki views this as a great opportunity for long-term investment.
Opportunity in Crisis
Robert Kiyosaki, renowned as the author of 'Rich Dad Poor Dad,' expressed optimism regarding the dip in Bitcoin's value. He calls it great news, perceiving it as a chance to buy at lower prices. Kiyosaki advocates for the 'buy low and hold' strategy, emphasizing Bitcoin's limited supply - less than two million BTC left to mine. His forecast of Bitcoin reaching $175,000-$350,000 by 2025 aligns with other expert predictions.
Temporary Pause
According to QCP Capital, Bitcoin's decline is tied to unexpectedly strong U.S. labor market data. The JOLTS report revealed 8.1 million job openings, exceeding expectations. This led to a reduction in risk assets, and with long-term bond yields surging, Bitcoin dropped, losing $206 million in an hour. Analysts suggest this dip is a temporary pause before a possible rally.
Market Reaction
The drop in Bitcoin also affected stock markets – the Nasdaq and S&P 500 indices fell. Bitcoin ETF inflows decreased by 94%. Investors are awaiting the outcomes of the Federal Reserve meeting and employment report, which may influence Bitcoin's future moves.
Despite significant fluctuations, many experts and investors, including Robert Kiyosaki, remain confident in Bitcoin's long-term prospects. Their optimism is based on historical trends and the cryptocurrency's limited supply.
