Key facts:
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Kiyosaki claims that he will buy more bitcoin when investors sell and it falls in price.
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While some analysts see bitcoin reaching $28,000, others see it at $8,000.
The price of bitcoin (BTC) has been trading between $20,000 and $21,700 for the past six days, showing some stability between the strength of supply and demand. This margin in which it is moving gives traders a slight reassurance, seeing that it has not touched its low of the year at $18,000 once more. Although there is a sense of uncertainty regarding his future.
The market specialists bitcoin they give very different projections from each other. Some believe that his fund was USD 18,000 and now he only has to go up, like The CEO of Binance has expressed. While others consider that we will still see lower prices for the cryptocurrency this season.
Robert Kiyosaki, the author of the book “Rich Dad Poor Dad” and a huge BTC enthusiast and investor, said on June 27: “I’m waiting for bitcoin to ‘test’ $1,100.” Likewise, he estimated: “If it recovers, I will buy more. If not, I’ll wait for the losers to quit and then I’ll buy more.”
Kiyosaki’s message surprised several of his followers, who replied: “USD 1,100?” That would imply a five-year setback for its price as of April 2017, the last time it traded that figure.
The acclaimed investment specialist argued that a lesson from rich dad is that losers quit when they lose. With that he understands that many bitcoin investors sell at losses out of fear, while he maintains that those with a winning mind learn from their losses.
That is why he warns that he will buy more BTC when the others manage to sell and the price falls. Precisely because, although its price may fall sharply, he speculates that it will rise in the long term.
Although it is convenient to bear in mind that there is no guarantee of this, for which it is advisable to anticipate possible risks. This avoids unwanted scenarios, as explained by the CryptoNews Cryptopedia.
Will Bitcoin break out lower or higher these days? Analyst responds
Analyst Tom DeMark Indian what, although bitcoin and ether (ETH) have plummeted, there has been no clear violation of current support or resistance. Therefore, from his perspective, he sees that there are two critical price points that can help determine where these cryptocurrencies will go.
He argues that a sustained nine-hour candlestick close above $22,100 might be significant enough to trigger a breakout to the upside. In this way, from a positive point of view, projects that the price of bitcoin would go up to $25,000 or even $27,000.
But it indicates that if it breaks below the $20,800 support, the next crucial zone of interest lies at $19,000. That is why it will be necessary to analyze how the market behaves in the coming days to see what strength is consolidated: If the demand for BTC driving its price rise or, on the contrary, the supply driving the cryptocurrency down.
As for ETH, the analyst believes that its price should not drop below USD 1,100 because otherwise it is likely that a wave of massive sales will be generated that will take it to USD 600. Therefore, he considers it imperative that it rises from the resistance of USD 1,320 up to USD 1,700.
“Bitcoin might reach USD 12,000 or even USD 8,000”, warns specialist
The specialist Patricia Malagón remembered on June 28 that bitcoin is a story of great rallies (bullish periods) and great corrections (bearish periods). Taking an average, he points out that his corrections are usually 82% and then the cryptocurrency recovers its value surpassing it with an all-time high.
Bitcoin is currently trading 70% lower than its all-time high seven months ago at $68,800. Therefore, understand that if BTC fell back to 82%, its price would hit $12,000 this correction season. Or even mentions that it might touch $8,000 if it falls 88%, comparing it to the worst decline of the last decade.
However, last week TradingView analyst Elliot Wave said that the chances of starting a recovery structure are high. Interpret that bitcoin has already finished the first major corrective structure and will start to recover its value.
Although he warns: “It is important that there are no new lows, and if it happens, that they do not lose the USD 14,000.” In conclusion, the eyes are now on whether bitcoin manages to break above its $22,000 resistance to start a bull run or will it drop below the $20,000 support. It seems that those points will define his future behavior.