Bestselling Finance Author Says Bitcoin Will Reach $500,000, But What Will Drive It?

‘Wealthy Dad Poor Dad’ writer Robert Kiyosaki has not been shy to let the world learn about his help of bitcoin and the finance author has come out once more to reiterate this help. This time round, Kiyosaki paints an extremely bullish narrative for the digital asset over the following few years.

Bitcoin Will Contact $500,000 In Two Years

In a current tweet, Kiyosaki instructed his over 2.3 million followers on Twitter that he expects the value of Bitcoin to succeed in $500,000 within the subsequent two years. The writer highlights this throughout a time when the markets stay in an unsure place as a consequence of not figuring out what the Federal Reserve will do to curb inflation.

Kiyosaki defined that he expects the value of the digital asset to truly attain $500,000 by 2025 as a result of the Fed will really hold printing extra money. He has beforehand stated that the declining religion within the U.S. greenback could be the set off for this rally and he reiterated this as soon as extra. 

Big crash coming. Despair attainable. Fed compelled to print billions in pretend cash. By 2025 gold at $5,000 silver at $500 and Bitcoin at $500,000. Why? As a result of religion in US greenback, pretend cash, might be destroyed. Gold & Silver Gods cash. Bitcoin folks’s $. Take care.

— Robert Kiyosaki (@theRealKiyosaki) February 13, 2023

Based on the author, whereas bitcoin will hit $500,000, different asset lessons similar to gold and silver will hit $5,000 and $500, respectively, in the identical yr. He refers to bitcoin because the ‘folks’s greenback’ at a time when he expects an enormous crash and even a melancholy.

How Is BTC Doing In The Quick Time period?

Kiyosaki’s predictions vary over the long run however for now, Bitcoin continues to be struggling to carry its worth. The digital asset has already misplaced its footing above $23,000 final week and is coming into the brand new week within the purple, and it doesn’t seem like it will get higher.

Within the early hours of Monday, the digital asset accomplished its first weekly dying cross which analysts similar to Benjamin Cowen have posted about. This indicator is one which is often bearish, so the dying cross has sparked some stage of concern out there. 

BTC sees first weekly dying cross | Supply: Twitter

With the dying cross confirmed, BTC is already seeing a draw back, falling to the $21,600 stage. Additional decline is anticipated from this level, however this stays to be seen on condition that investor sentiment continues to be at an excellent impartial level.

For now, all eyes are on the CPI knowledge report that’s anticipated to be launched on Tuesday. If it comes out pretty much as good as January’s numbers, then it may invalidate the dying cross, resulting in extra upside for the digital asset.

Bitcoin is at present altering arms at a value of $21,627 on the time of this writing. It’s down 1.28% within the final 24 hours and seeing losses of 5.3% within the final seven days.

BTC value struggles at $21,600 as dying cross is triggered | Supply: BTCUSD on TradingView.com