As an experienced financial analyst, I have closely followed Robert Kiyosaki’s investment philosophy and market insights for years. His latest statement about Bitcoin’s dip is in line with his long-term perspective on investing and his belief in the intrinsic value of scarce assets like gold, silver, and Bitcoin.
On Monday, renowned investor and writer Robert Kiyosaki expressed his excitement about potential Bitcoin purchases once its price dipped down to $61,000 at the beginning of the day.
But The Bitcoin Dip, Says Robert Kiyosaki
The author of the top-selling personal finance book, “Rich Dad Poor Dad,” argues against the notion of selling during market downturns, viewing it as a mindset more suited to employees rather than financial entrepreneurs.
“Bitcoin is experiencing a significant drop. It’s advised that many people consider selling. However, I’m taking advantage of the situation by planning to buy more. If the volatility scares you, then it might be best for some individuals to sell and hold onto their steady employment.”
Kiyosaki frequently commends Bitcoin for its scarcity and limited supply, likening it to precious metals such as gold and silver. This scarcity makes Bitcoin less susceptible to the inflationary effects of traditional fiat currencies like the US dollar.
As a crypto investor looking back at March, Robert Kiyosaki’s advice resonated deeply with me. He warned followers that government bonds were essentially a false sense of security peddled by financial advisors, while encouraging us to consider real assets like gold, silver, and Bitcoin. These assets, he believed, were primed for significant growth.
As a crypto investor, I personally don’t focus on Bitcoin’s short-term price fluctuations like some people do, according to Kiyosaki’s observation.
“He pointed out the challenge of trading assets due to short-term capital gains taxes on Monday. His approach aligns with Warren Buffett’s long-term investment philosophy, dubbed ‘buy and hold forever.'”
As a analyst, I would put it this way: “Entrepreneurs and employees represent two sides of the same coin. I encourage you to keep that in mind during challenging times. Prioritize your own well-being above all else.”
Bitcoin’s Fierce Correction
Bitcoin experienced a downturn on Monday due to the announcement that Mt. Gox would initiate returning its clients’ Bitcoins, which have been held in trust since the exchange’s insolvency almost a decade ago. The substantial amount of 141,686 BTC, now valued at over $8 billion, has raised apprehension among Bitcoin holders, as they fear a potential surge in selling from Mt. Gox customers upon receiving their repayments.
As a researcher studying the cryptocurrency market, I’ve observed that Bitcoin’s price dipped below the $59,000 mark on Monday. Surprisingly, its decline was less severe compared to several altcoins, resulting in more pronounced gains for Bitcoin. According to CoinGlass, a staggering amount of over $373 million worth of crypto positions were liquidated during the past 24 hours.
Androew Kang, a prosperous cryptocurrency trader, forecasted on Sunday that Bitcoin could experience significant price drops in the upcoming months. However, he subsequently anticipated Bitcoin reaching new peaks by 2025.
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2024-06-25 01:36