Is Bitcoin facing a downturn?
This is the rare opportunity that Kiyosaki is looking for:
Bitcoin has seen nearly a 1.4% decline after reaching its highest price of $110,600 during the week; however, experts say this decline is a minor fluctuation rather than a severe crisis.
Famous author and investor Robert Kiyosaki, known as 'Rich Dad Poor Dad', has criticized news on social media predicting a sharp decline for Bitcoin.
Kiyosaki says that these 'clickbait' news stories are merely aimed at gaining attention and scare away real investors.
He clarified that such fear-spreading statements force small investors to sell hastily, which could be detrimental.
Kiyosaki also mentioned his own plan that if there is a severe drop in Bitcoin's price, he will buy more coins at low prices, and he also stated that he recently invested in Bitcoin at a price above $100,000, showing his confidence.
Kiyosaki has set ambitious goals in his investment strategy, where he expects Bitcoin's price to reach $200,000 by the end of the year and potentially $1 million in the next five years.
Kiyosaki considers Bitcoin a necessary investment alongside gold and silver.
On the other hand, some experts believe that a 10% drop from the highest price of $110,600 is normal, and according to technical charts, Bitcoin has seen fluctuations of over 15% in the past.
The hasty selling by ordinary investors can lead to further price declines.
Several major investors like Michael Saylor also believe in Bitcoin's long-term growth, as the total supply of Bitcoin is limited to 21 million coins and its demand is increasing globally.
However, market experts say that buying at low prices is only beneficial if prices recover soon, and this strategy can only succeed if the investor has cash and courage.
Kiyosaki's main message is that fear-mongering news is only for increasing clicks and should not be the basis for investment decisions.
If you believe in the long-term growth of Bitcoin, you should view small fluctuations as buying opportunities.
The mutual decision depends on each individual's risk tolerance and also relies on the future trends of the market....
BOTSLASH: Crypto Urdu and English News, Education and Analysis
BOTSLASH: Crypto Urdu News, Education and Analysis
This is news, this is analysis.
It could be wrong, and it could be right!
So remember, this is not financial advice.
