‘Rich Dad Poor Dad’ author Robert Kiyosaki has not been shy about letting the world know about his bitcoin support and financial writers have come out again to reiterate this support. This time, Kiyosaki outlined an incredibly bullish narrative for digital assets over the next few years.
Bitcoin Will Touch $500,000 In Two Years
In a recent tweet, Kiyosaki told his more than 2.3 million followers on Twitter that he expects the price of Bitcoin to reach $500,000 in the next two years. The author highlights this when the market remains in a position of uncertainty because it is not known what the Federal Reserve will do to prevent inflation.
Kiyosaki explained that he expects the price of the digital asset to reach $500,000 by 2025 as the Fed will continue to print more money. He previously said that falling faith in the US dollar would be the trigger for this rally and he said it again.
A giant crash is coming. Depression can. The Fed was forced to print billions in fake money. By 2025 gold at $5,000 silver at $500 and Bitcoin at $500,000. Why? Because of faith in the US dollar, fake money, it will be destroyed. Gold & Silver God Money. Bitcoin people $. Be careful.
— Robert Kiyosaki (@theRealKiyosaki) February 13, 2023
According to the author, when bitcoin will reach $500,000, other asset classes such as gold and silver will reach $5,000 and $500, respectively, in the same year. He called bitcoin the ‘people’s dollar’ while he expected a giant crash and even a depression.
How Does BTC Do In The Short Term?
Kiyosaki’s prediction is for the long term but for now, Bitcoin is still struggling to maintain its value. The digital asset lost above $23,000 last week and entered the new week in the red, and it doesn’t look much better.
In the early hours of Friday, digital assets completed the first weekly death cross which analysts such as Benjamin Cowen have sent about. This indicator is one that is usually bearish, so the death cross has spread some level of fear in the market.
BTC sees first weekly death cross | Source: Twitter
With the death cross confirmed, BTC has seen losses, dropping to the $21,600 level. Further declines are expected from this point, but this remains to be seen as investor sentiment is still at a favorable neutral point.
Currently, all eyes are on the CPI data report which is expected to be released on Tuesday. If it comes out as a January number, then it can invalidate the death cross, leading to a rise again for digital assets.
Bitcoin is currently changing hands at $21,627 at the time of this writing. It is down 1.28% in the last 24 hours and has lost 5.3% in the last seven days.
BTC price struggles at $21,600 as death cross is triggered | Source: BTCUSD on TradingView.com