Bitcoin $350,000 Price by August? Kiyosakis Bullish Bet Defies Market Reality
Bitcoin is set to reach as high as $350k by the 25th of August this year, according to the author of the New York Times bestseller Rich Dad, Poor Dad. Robert Kiyosaki, a PhD economist in question, is a known Bitcoin bull and has made bold predictions in the past regarding the digital currency.
Kiyosaki posted on X:
While Kiyosaki did tweet that the premier digital currency will reach $350k in about two and a half months, he followed up with a more realistic take by saying it is only a prediction, not a lie. He also stated that he is going to keep buying more Bitcoin, Ethereum, and Solana because he is certain their prices will continue to rise as well.
Are Kiyosakis Predictions Reliable?
Kiyosaki then followed up with vitriol against the President, Fed chairman Gary Powell, and Treasury Secretary Janet Yellen. He is known to be critical of the US governments irresponsible fiscal policies, and he prefers BTC because of its declared scarcity.
However, just a couple of months ago, Kiyosaki tweeted a prediction that the digital currency would reach as high as $100k by the end of June. We are already a week into the new month, and the index is currently stuck just above $70k. Even a new All-Time High (ATH) has been elusive. It is still achievable but getting tougher with each passing day, and there is no clear price uptick.
Bitcoin to $350k in 80 Days?
Bitcoin has a lot of ground to cover to reach the massive $350k valuation by August 25 of this year. The index will need to appreciate roughly 500% to achieve this milestone, and the total market capitalization will cross the $6 trillion valuation in the process.
Theoretically, 5x moves in the premier digital currency have happened before but not in such a short time since 8 years. So, Kiyosakis prediction of a $350k Bitcoin in such a short amount of time is quite unrealistic overall. While it may be possible at the end of the current bull market, it certainly has little chance by August.
However, his June prediction of $100k is still in the books and the end of this month is highly anticipated as it would set the tone for the second half of the calendar year. Bulls would be looking to record a new ATH even if the $100k price target isnt achieved.
Read more: https://zycrypto.com/bitcoin-350000-price-by-august-kiyosakis-bullish-bet-defies-market-reality/
Text source: ZyCrypto
