Renowned investor and Rich Dad Poor Dad writer Robert Kiyosaki is relying on a possible downturn in the BTC worth this month, pushed by the “Bitcoin August Curse.” However, Kiyosaki views this crash as a doable alternative to bolster his BTC holdings. Will this August dip be a curse or a blessing?
Robert Kiyosaki Eyes More Bitcoin in this August Crash
August has a infamous status for Bitcoin worth dips, usually bringing vital losses regardless of sturdy previous traits. In a current X post, Robert Kiyosaki underscored the importance of the potential decline in the BTC worth in August.
According to Robert Kiyosaki, Bitcoin could fall beneath $90,000 from its present worth of $114k. However, he highlighted his plans to double his present place if the August curse hits the BTC worth. He wrote, “If the Bitcoin August Curse hits and Bitcoin crashed, I stand by to 2x my position today.”
Previously, Kiyosaki had issued a warning about an impending monetary disaster that would influence Bitcoin as properly. He acknowledged that “bubbles are about to start busting,” as CoinGape reported. This warning got here amid a hovering US nationwide debt of $37 trillion and rising Treasury yields, exposing vulnerabilities in the US financial system.
According to him, the true difficulty lies not with Bitcoin however with the huge nationwide debt and the incompetence of these working the Federal Reserve and the Treasury. He believes that the Bitcoin August Curse will finally make most Bitcoin traders richer.
Is A Bitcoin Crash Ahead in August?
Historically, August has been a difficult month for Bitcoin, usually marked by vital worth drops regardless of the market’s total path. CryptoRank data reveals that the pioneer cryptocurrency’s August returns common a decline of seven.87%.
Notably, in some early years like 2011, 2014, and 2015, the crypto has seen extreme declines in August. Even in comparatively higher years, corresponding to 2022 and 2023, it nonetheless skilled notable dips of 14% and 11.2%, respectively. This development has led some analysts to predict potential losses in this yr August.
Reportedly, Bitcoin’s August-September interval has a 67% likelihood of worth drops, incomes it the title of ‘devilish months.’ However, it’s noteworthy that post-halving years have generally bucked this development, with double-digit positive aspects in August 2013, 2017, and 2021.
Adding extra gasoline to the August dip speculations, Bitcoin and different cryptocurrencies noticed a uninteresting starting this month. On August 1, the crypto market plunged following the weak US job report, with the BTC worth slipping beneath $113k. The market shakeout resulted in $726 million in liquidations, with lengthy positions closely impacted
Nonetheless, the potential August dip in BTC worth may very well be a blessing in disguise, as per Robert Kiyosaki’s phrases. With the decline offering extra shopping for alternatives, it may finally profit most traders.
Nynu V Jamal
Nynu V Jamal is a Senior Journalist at CoinGape. She boasts greater than 3 years of expertise in content material writing, with experience in crypto and blockchain. She has contributed to platforms like CoinEdition and CryptoTale, demonstrating her proficiency in navigating the dynamic crypto landscape.
Beyond her journalistic pursuits, Nynu is a literary enthusiast, having served as an Assistant Professor of English Language and Literature. She is a Master’s degree holder in English Literature and a UGC NET qualifier. Her academic background has enabled her to publish research papers on literature, while also nurturing her creative side as a published poet.
Her creative side extends to music, crafts, and art, which she actively explores. Her unique blend of analytical and creative skills allows her to craft engaging stories that captivate audiences. Stay updated with Nynu on LinkedIn
Investment disclaimer: The content material displays the writer’s private views and present market situations. Please conduct your personal analysis earlier than investing in cryptocurrencies, as neither the writer nor the publication is accountable for any monetary losses.
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