Kiyosaki says that he will buy more Bitcoin when investors sell their holdings and the price drops. Some analysts believe the value of BTC will reach USD 28,000, while others think it will get to USD 8,000.
Bitcoin (BTC) has traded between USD 20,000 and USD 21,700 over the past six days, showing stability between the supply and demand strength. That range gives traders a slight reassurance, as it has not touched its low of the year at USD 18,000 again.
Experts in the Bitcoin market give forecasts very different from each other. Some believe its bottom was USD 18,000 and only needs to go up, as the CEO of Binance has stated. Others consider there will still be lower prices for the cryptocurrency this season.
Robert Kiyosaki, the author of Rich Dad Poor Dad, is a BTC enthusiast and an investor. He recently said he was waiting for Bitcoin to test USD 1,100. The investment specialist added he would buy more if the price recovered or investors quit.
His words surprised several followers, who could not believe he had predicted a drop toward USD 1,100. That would mean a five-year pullback to its price of April 2017, when it last traded that figure.
The renowned author argued that many Bitcoin investors sell their holdings at a loss out of fear. Meanwhile, he maintains that those with a winning mind can learn from losing.
He pointed out that he would buy more BTC when others sell their coins and the price drops. Although the value of the cryptocurrency may fall sharply, he thinks it will rise in the long run.
There is no guarantee of that happening, but it is advisable to anticipate possible risks to avoid unwanted scenarios.
An Analyst Says Whether Bitcoin Will Break to the Downside or the Upside
Analyst Tom DeMark has not seen any clear breach of current support or resistance despite the drop in the price of Bitcoin and Ether (ETH). He expects two critical price points that can help determine where those cryptocurrencies will head next.
He argues that a sustained nine-hour candlestick close above USD 22,100 could trigger a breakout to the upside. In that way, he foresees that the price of Bitcoin might go up to between USD 25,000 and USD 27,000.
However, the expert explains that the next crucial zone of interest lies at USD 19,000 if it breaks below the USD 20,800 support. Therefore, analyzing how the market behaves in the coming days will be necessary to see the consolidated strength. The demand for BTC might drive its price higher, or the supply might take the cryptocurrency to the downside.
BTC is trading at around USD 20,363 and has accumulated a 1.8% loss over the last 24 hours. While its daily trading volume is above USD 18.18 billion, its market capitalization is about USD 386.89 billion, according to CoinGecko.
Concerning the price of ETH, DeMark believes it should not drop below USD 1,100 as a wave of massive might take it to USD 600. He considers it must rise from the resistance at USD 1,320 to USD 1,700.
By Alexander Salazar
