Robert Kiyosaki Hopes Bitcoin Drops to $90K in August: Here’s Why
Main Idea
Some financial experts predict Bitcoin (BTC) could drop below $100,000 this month, citing historical price declines in August and concerns about U.S. government policies.
Key Points
1. Bitcoin has historically seen significant price drops in August, with declines of over 13% in 2022 and 11.29% in 2023.
2. Robert Kiyosaki speculates BTC could drop to as low as $90,000, attributing potential declines to U.S. government debt and financial mismanagement.
3. BTC reached an all-time high above $123,000 on July 14th but has since dipped below $112,000, remaining over 6% below its peak.
4. Public companies' BTC treasury strategies contributed to the recent price surge, but market volatility persists.
5. On-chain data from CoinGlass supports the observation of August being a historically weak month for Bitcoin's price performance.
Description
As bitcoin (BTC) hovers around $114,000, some financial market experts are hoping that it will drop below the $100,000 price mark this month. This way, they can accumulate even bigger bags of the apex cryptocurrency. Renowned author Robert Kiyosaki is one of those nurturing this idea. He noted in a recent tweet that he expects BTC to drop to as low as $90,000. His speculation is not far-fetched, as bitcoin has historically plummeted significantly every August. What Could Trigger BTC Dump? Accord...
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