Cryptocurrency Market Update: Business mogul Robert Kiyosaki more bullish on Bitcoin than gold
|- The author of Rich Dad, Poor Dad, Robert Kiyosaki predicts Bitcoin to trade at $75,000 in three years.
- Kiyosaki is motivated by the dwindling economy to increase investment in assets such as Bitcoin, gold and silver.
The network marketing businessman, Robert Kiyosaki has come out strongly once again as a Bitcoin bull. In his recent tweet, Kiyosaki proclaimed his bullish opinions for three investment assets including gold, silver and Bitcoin. In regards to Bitcoin, Kiyosaki believes that the largest cryptocurrency has the potential to hit levels of $75,000 in just three years.
Kiyosaki, who is also the author of the bestselling book, Rich Dad, Poor Dad, said that the dying economy was the motivation behind his recent investment in gold, silver and Bitcoin. According to him, these three assets are valuable and are outside the traditional market scope.
ECONOMY dying. FED incompetent. Next BAILOUT trillions in pensions. HOPE fading. Bought more gold silver Bitcoin. GOLD @$1700. Predict $3000 in 1 year. Silver @ $17. Predict $40 in 5 years. Bitcoin @$9800. Predict $75000 in 3 years. PRAY for the BEST-PREPARE for the WORST.
— therealkiyosaki (@theRealKiyosaki) May 16, 2020
From the current market values, Kiyosaki’s predictions suggest that Bitcoin has the highest growth potential. In other words, Bitcoin is expected to have an annual increase of 97%, gold 76% and silver 19%.
Robert Kiyosaki’s love for Bitcoin has been growing in recent months. He is not afraid to use his platforms to educate the masses in regards to virtues of Bitcoin and the blockchain technology. For instance, in a podcast with Anthony Pompliano, Kiyosaki showered Bitcoin with praise saying:
The reason I endorse Bitcoin is just for one frickin reason — you’re not part of the system.
Gold and silver are God’s money, and Bitcoin is open-source people’s money.
Bitcoin market update
At the time of writing, Bitcoin is trading at $9,571 following a rejection from the intraday high of $9.957. The retreat is back to the levels Bitcoin dived to over the weekend. The question is, will the bulls hold above $9,500 to avert losses towards $9,000? For now, the price is still trading within a wide ascending channel. The channel support is likely to come in handy. Moreover, a possible sideways moving RSI suggests that consolidation is likely above $9,500 before BTC/USD bulls launch another attack on $10,000.
Read more: Bitcoin Price Analysis: BTC/USD on verge of breaking $10,000 resistance
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