Bitcoin Crash: A Buying Opportunity? Kiyosaki's Contrarian View
Key Takeaway
Despite Robert Kiyosaki’s dire prediction of a Bitcoin crash, on-chain data shows most BTC holders are still in profit. Market sentiment remains bullish, with analysts expecting a healthy pullback rather than a full reversal.
Bitcoin's [BTC] recent price swings have reignited market jitters, with the flagship cryptocurrency dropping 2.94% over the past week.
Despite a slight 0.28% rebound pushing BTC to $118,219.84, investor sentiment remains divided.
Robert Kiyosaki’s Bitcoin Prediction
“Rich Dad Poor Dad” author Robert Kiyosaki has issued a stark warning of an imminent Bitcoin collapse, though he surprisingly labels it as “good news” for long-term believers.
He said:
“BUBBLES are about to start BUSTING. When bubbles bust odds are gold, silver, and Bitcoin will bust too. Good news. If prices of gold, silver, and Bitcoin crash…. I will be buying. Take care.”
In response, the crypto community pushed back against Kiyosaki’s comments, with Brew Markets notably calling out his stance.
“Don’t take investment advice from Robert Kiyosaki.”
Echoing similar sentiments, another X user noted:
“You’ve been saying this for years! Every time there’s talk about bubbles bursting, you bring up gold, silver, and Bitcoin.”
The crypto community pushed back against Kiyosaki’s latest warning, with some even predicting the early signs of an upcoming altseason.
Is Altseason Looming?
AMBCrypto recently highlighted two potential outcomes that were emerging.
First, Bitcoin may briefly dip to retest key support levels, which is seen as a healthy correction before resuming its uptrend. This could flush out weak hands and reset market sentiment.
Alternatively, while BTC consolidates, altcoins, especially those already overextended, might see a deeper pullback. Still, both scenarios suggest temporary volatility rather than a full trend reversal.
Kiyosaki, known for his dramatic market forecasts, just recently warned of a historic crash that could drive investors away from traditional assets and into Bitcoin. Back in March, he had already claimed “the everything bubble” was bursting, calling it the biggest collapse in history.
On-Chain Metrics
On-chain metrics tell a different story.
As highlighted by AMBCrypto’s analysis of IntoTheBlock data, a substantial 94.25% of BTC holders were “in the money” at press time, meaning their current holdings were valued higher than the price at which they purchased them. Meanwhile, only 0.51% of holders were “out of the money,” or holding BTC at a loss.
This stark disparity points to a strong bullish sentiment in the market, as the majority of investors were sitting on profits and may be less inclined to sell. It also reduces overall selling pressure, which could help support a steady price recovery or even fuel the next leg upward.
As a result, the data suggests that Bitcoin could be poised for a rebound in the near term.
Disclaimer: The information provided in this article is for informational purposes only and should not be considered investment advice. Cryptocurrency investments are inherently risky, and you could lose your entire investment. Consult with a qualified financial advisor before making any investment decisions.
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