Robert Kiyosaki, the author of the financial book "Rich Dad Poor Dad," issued a warning statement via social media, suggesting that Bitcoin may experience a significant price correction in August. Kiyosaki noted that historically, Bitcoin's performance in August has been weak, leading him to predict the cryptocurrency. Currently, Bitcoin continues to trade at $114,973.
August Predictions and Historical Trends
Based on past price fluctuations, Kiyosaki coined the term "August Curse" for a recurring trend when Bitcoin's price tends to decline. He believes these fluctuations create opportunities for long-term investors. By engaging in financial education events, Kiyosaki has gained insights from experts across various asset classes.
Robert Kiyosaki expressed his willingness to double his Bitcoin holdings if its price drops more than 21% from the current level. According to him, short-term market volatility could ultimately present profitable opportunities for long-term investments. He emphasizes the importance of weighing potential returns against risks during such times.
Kiyosaki believes the root cause is not the intrinsic momentum of Bitcoin but rather the global economy and poor monetary policy. He argues that high public debt and financial institution management could significantly affect the market.
Cryptocurrency Warning
Kiyosaki's remarks have attracted the attention of investors focused on short-term price fluctuations. Some market observers acknowledge the historical similarities in August price volatility but recommend that investors conduct their own research. Known for his bullish forecasts, Kiyosaki rarely provides short-term analysis, suggesting he may want to prepare investors ahead of August.
It is important to note that Bitcoin's annual performance can vary based on current data, and past trends do not guarantee future results. Kiyosaki's personal investment decisions and strategies may lead to losses for those who directly copy him.
Emphasizing the importance of considering current market conditions, potential risks, and personal strategies, investors are reminded to take into account global economic developments and financial policies, factors that may impact the cryptocurrency market.
Ultimately, with different approaches to potential Bitcoin price fluctuations, market commentators encourage investors to reassess their long-term vision and financial goals. Kiyosaki remains skeptical about August and is preparing for significant purchases if the price drops below $90,000.