Posted on 02/19/2024 3:37:19 PM PST by NoLibZone
Kiyosaki mentioned in an X (formerly Twitter) post that Bitcoin will hit $100,000 by June 2024. However, he didn’t mention what will propel this massive price surge. The finance expert is known to be a huge advocate of the foremost crypto token and, at different times, given his opinion on its potential.
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Surge Date
Before now, Kiyosaki, who authored the best-selling book ‘Rich Dad, Poor Dad,’ said that Bitcoin was going to rise to $150,000 and singled out the Spot Bitcoin ETFs as what would drive this parabolic move. He had also once identified the Bitcoin Halving as being pivotal for BTC’s growth.
Interestingly, the author is believed to be a ‘crypto OG’ as he previously shared his excitement about investing in BTC “years ago.” He also continues to urge others to do the same, claiming that it is the way to avoid becoming poorer due to the actions of the government. Kiyosaki doesn’t shy away from criticizing the government and recently went as far as branding the Federal Reserve “a criminal organization.”
According to him, the “Fed has destroyed the economy, made the poor and middle class poorer, and bailed out their rich banking friends.” Instead of trusting the Fed (possibly to fight inflation), Kiyosaki stated that he would rather put his trust in Bitcoin and other assets like Gold and Silver.
BTC Will Hit $100,000 But How Soon? There seems to be a consensus among several crypto analysts that Bitcoin will no doubt hit $100,000 in the next bull run. However, the ultimate question remains when exactly this will happen. Just like Kiyosaki, crypto analyst Kevin Svenson believes that this price level isn’t far off.
Related Reading: 4 Surprising Insights From Coinbase’s Earnings, COIN Sees Bullish Surge Tom Dunleavy, Partner and Chief Investment Officer (CIO) at MV Capital, also predicted that Bitcoin will hit $100,000 this year, although he didn’t give a more precise timeframe like Kiyosaki. While some predictions remain devoid of a specific timeframe, the belief is that this parabolic price surge will happen after Bitcoin Halving.
The Halving event has been projected to be what kickstarts the next bull run. That isn’t surprising, considering that Bitcoin is known to claim a new all-time high (ATH) after miners’ rewards are cut in half. One of the most bullish post-halving price predictions is Anthony Scaramucci’s prediction that BTC will hit $170,000 in 2025.
At the time of writing, Bitcoin was trading at around $52,300, up over 1% in the last 24 hours, according to data from CoinMarketCap.
Featured image from InfoMoney, chart from Tradingview.com
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Could go up, sideways or down.
Is there a bitcoin etf?
I see bitcoin as more of a gamble than an investment. And the government can easily shut it down or render it next to useless via legislation if it ever became competitive with their currency.
FR Crypto Ping!
Thanks for posing.
They retain their price based on a false assumption that the have more value in modern-day economics than they do.
There are those who will stake their lives on the performance of precious metals and bitcoin.
Have actually lost good friends who got mad at me for saying that gold and silver are not the answer.
BTW - I have absolutely no issue with gold and silver - just that they are psychological holdings.
PS - the "answer" is to get rid of debt-based money. The "answer" could still be in the form of fiat - just not representing a claim on the future labor of others.
"Completed labor"-based money did just fine with Colonial Script, and with Tally sticks which were used for over 400 years in England.
The creation of the Bank of England in 1693 was the beginning of the end, as was the original central bank in Holland.
In the last four cycles, it took months for the price to rise significantly after the “halvening.” That would put the big push towards the end of ‘24 and into ‘25.
“They” can’t shut it down. They would have to shut the internet down. And that isn’t happening.
I think it will go up before it crashes again.
I have never understood the whole bit coin thing.
I just think a digital private currency that the “gov”
can’t track and control may not be a “forever” thing.
Of course it could be the thing .... I’m just to old of a dog to learn that trick.
Good luck to anyone who rides that pony, I am open to any info and education on it.
But for now ... I can’t take that ride with you.
“The creation of the Bank of England in 1693 was the beginning of the end, as was the original central bank in Holland.”
The end? And yet after 300+ years here we are. It’s not over until we say it’s over and I’m still having a ball. :-)
Turn of the power or shut down the internet and bit coin no longer exists. It could be gone in a single second.
Its value is directly linked to its finite quantity.
From memory - 21 million Bitcoins were created.
However, according to most estimates, 20%-35% of Bitcoins have been "misplaced."
Specifically, the exact location code of each Bitcoin in the Block Chain has been lost or discarded.
I am wondering if the massive power of quantum computers will be able to locate all the lost Bitcoins in the future?
If the circulating supply of Bitcoins increases by millions, the price of every Bitcoin is going to come down - hard and fast!
And it has. A few years ago I invested in a bitcoin trading company. Stock was about $40/share two years ago. Rose a bit and then nosedived, as bitcoins suffered. A year ago it was about $8/share. This year it rose up, and is about $46/share. Bitcoin values go up and down like a yo-yo. It's a gamble, very volatile. But rising this past year. Trying to decide whether to sell and take the profit before it nosedives again.
Nope. The government can't shut it down. Several countries such as China have banned it multiple times. Such bans always fail and always will. To get rid of Bitcoin and other Crypto currencies, you'd have to shut down the entire internet. Its decentralized. There is no headquarters to raid. There is no CEO to arrest. Its traded around the world 24/7.
Because people trust fake currency more than real currency when leftists are in charge
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